Lockheed Martin (NYSE:LMT) Trading 0.8% Higher - Here's Why

Lockheed Martin Co. (NYSE:LMT - Get Free Report) was up 0.8% during mid-day trading on Friday . The company traded as high as $491.37 and last traded at $490.81. Approximately 373,158 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 1,055,451 shares. The stock had previously closed at $486.86.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LMT. StockNews.com cut shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. dropped their price objective on Lockheed Martin from $546.00 to $540.00 and set an "overweight" rating on the stock in a research note on Thursday. Robert W. Baird raised their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Wells Fargo & Company dropped their price objective on shares of Lockheed Martin from $543.00 to $500.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 8th. Finally, Citigroup increased their price target on Lockheed Martin from $570.00 to $700.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $584.40.

Lockheed Martin Price Performance

The stock has a market cap of $116.30 billion, a PE ratio of 17.76, a P/E/G ratio of 3.76 and a beta of 0.48. The business has a 50 day moving average price of $507.59 and a two-hundred day moving average price of $535.22. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Lockheed Martin's revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $6.77 earnings per share. Research analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lockheed Martin

Several large investors have recently modified their holdings of the business. Itau Unibanco Holding S.A. purchased a new position in Lockheed Martin in the 3rd quarter valued at approximately $26,000. Mattson Financial Services LLC bought a new position in shares of Lockheed Martin in the second quarter worth $27,000. Burkett Financial Services LLC purchased a new position in shares of Lockheed Martin in the third quarter valued at $32,000. Capital Performance Advisors LLP purchased a new stake in Lockheed Martin during the 3rd quarter worth about $40,000. Finally, Legacy Investment Solutions LLC bought a new position in Lockheed Martin in the 3rd quarter worth about $42,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Company Profile

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.

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