Lockheed Martin (NYSE:LMT) Price Target Lowered to $540.00 at JPMorgan Chase & Co.

Lockheed Martin (NYSE:LMT) had its price target dropped by investment analysts at JPMorgan Chase & Co. from $546.00 to $540.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the aerospace company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 11.64% from the stock’s current price.

Other equities analysts have also issued reports about the company. Wells Fargo & Company dropped their price objective on Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. TD Cowen increased their price objective on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Barclays dropped their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Citigroup boosted their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and reduced their target price for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and an average target price of $584.40.

Lockheed Martin Price Performance

NYSE LMT opened at $483.71 on Thursday. The company has a 50 day moving average price of $508.95 and a two-hundred day moving average price of $535.59. Lockheed Martin has a 12-month low of $413.92 and a 12-month high of $618.95. The stock has a market capitalization of $114.66 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 3.76 and a beta of 0.48. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same period last year, the business earned $6.77 EPS. The firm’s revenue was up 1.3% compared to the same quarter last year. As a group, equities analysts predict that Lockheed Martin will post 26.89 earnings per share for the current fiscal year.

Institutional Trading of Lockheed Martin

Several hedge funds have recently modified their holdings of LMT. Itau Unibanco Holding S.A. bought a new stake in Lockheed Martin during the 3rd quarter worth approximately $26,000. Mattson Financial Services LLC bought a new position in shares of Lockheed Martin in the second quarter valued at about $27,000. Burkett Financial Services LLC acquired a new position in Lockheed Martin during the 3rd quarter worth about $32,000. Capital Performance Advisors LLP acquired a new stake in Lockheed Martin in the 3rd quarter valued at about $40,000. Finally, Legacy Investment Solutions LLC bought a new position in Lockheed Martin in the 3rd quarter worth approximately $42,000. 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.