Lockheed Martin (NYSE:LMT) Stock Price Down 0.1% – Here’s What Happened

Shares of Lockheed Martin Co. (NYSE:LMT) fell 0.1% during trading on Thursday . The stock traded as low as $484.46 and last traded at $485.53. 218,539 shares traded hands during trading, a decline of 80% from the average session volume of 1,092,156 shares. The stock had previously closed at $485.94.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on LMT shares. Robert W. Baird boosted their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Wells Fargo & Company lowered their price target on Lockheed Martin from $602.00 to $543.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Citigroup boosted their price objective on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. raised their target price on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Barclays lifted their price target on Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $605.36.

Lockheed Martin Price Performance

The company’s fifty day simple moving average is $519.47 and its 200-day simple moving average is $534.34. The stock has a market cap of $114.21 billion, a P/E ratio of 17.44, a price-to-earnings-growth ratio of 4.05 and a beta of 0.47. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the prior year, the business posted $6.77 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 26.88 EPS for the current year.

Institutional Investors Weigh In On Lockheed Martin

A number of hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC raised its holdings in shares of 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 buying an additional 1,556,609 shares during the last quarter. Wulff Hansen & CO. increased its position in Lockheed Martin by 56,626.7% in the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after acquiring an additional 1,019,281 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Lockheed Martin by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock worth $263,561,000 after acquiring an additional 249,591 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Lockheed Martin by 8.5% during the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after purchasing an additional 240,306 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Lockheed Martin by 6.6% during the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after purchasing an additional 209,591 shares during the last quarter. Institutional investors and hedge funds 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.