Lockheed Martin (NYSE:LMT) PT Lowered to $665.00 at Royal Bank of Canada

Lockheed Martin (NYSE:LMT) had its price objective cut by research analysts at Royal Bank of Canada from $675.00 to $665.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the aerospace company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 16.12% from the stock’s current price.

Other analysts have also recently issued reports about the company. Morgan Stanley upped their target price on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Susquehanna decreased their price objective on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday. UBS Group increased their price objective on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research report on Wednesday. Bank of America reaffirmed a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. Finally, Citigroup increased their target price on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $606.71.

Lockheed Martin Trading Down 0.7 %

Shares of LMT stock traded down $4.28 on Wednesday, hitting $572.70. The stock had a trading volume of 830,607 shares, compared to its average volume of 1,051,575. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The firm has a market capitalization of $137.41 billion, a P/E ratio of 20.94, a P/E/G ratio of 4.84 and a beta of 0.47. Lockheed Martin has a 1 year low of $413.92 and a 1 year high of $618.95. The company’s 50 day moving average price is $579.79 and its 200-day moving average price is $513.10.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the prior year, the business earned $6.77 EPS. Lockheed Martin’s revenue was up 1.3% on a year-over-year basis. Analysts anticipate that Lockheed Martin will post 26.68 earnings per share for the current year.

Institutional Investors Weigh In On Lockheed Martin

A number of large investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. raised its position in Lockheed Martin by 1.7% in the second quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after purchasing an additional 31,545 shares during the period. International Assets Investment Management LLC raised its position in Lockheed Martin by 60,592.0% in the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after purchasing an additional 1,556,609 shares during the period. Legal & General Group Plc raised its position in Lockheed Martin by 14.9% in the second quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after purchasing an additional 180,074 shares during the period. Dimensional Fund Advisors LP raised its position in Lockheed Martin by 11.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock valued at $546,144,000 after purchasing an additional 119,052 shares during the period. Finally, Wulff Hansen & CO. raised its position in Lockheed Martin by 56,626.7% in the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after purchasing an additional 1,019,281 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

About Lockheed Martin

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.