Lockheed Martin (NYSE:LMT) Trading Up 0.8% – Time to Buy?

Shares of Lockheed Martin Co. (NYSE:LMT) shot up 0.8% during trading on Monday . The stock traded as high as $492.05 and last traded at $490.60. 1,331,181 shares changed hands during mid-day trading, an increase of 28% from the average session volume of 1,037,778 shares. The stock had previously closed at $486.86.

Analyst Ratings Changes

LMT has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Citigroup dropped their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday. Royal Bank of Canada lowered their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company lowered their price target on shares of Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and an average price target of $577.73.

Lockheed Martin Price Performance

The stock has a 50-day moving average price of $503.20 and a two-hundred day moving average price of $536.20. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The stock has a market cap of $120.08 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 3.96 and a beta of 0.48.

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 analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion for 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%. The company’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.77 earnings per share. As a group, equities research analysts forecast that Lockheed Martin Co. will post 26.8 EPS for the current year.

Institutional Inflows and Outflows

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