Lockheed Martin (NYSE:LMT) Coverage Initiated by Analysts at Truist Financial

Truist Financial assumed coverage on shares of Lockheed Martin (NYSE:LMT) in a research report released on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $579.00 price objective on the aerospace company’s stock.

A number of other brokerages also recently issued reports on LMT. Royal Bank of Canada lowered their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Robert W. Baird raised their price target on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. UBS Group boosted their price objective on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. TD Cowen raised their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and dropped their target price for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. One investment 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $590.40.

Lockheed Martin Trading Up 0.2 %

Shares of LMT opened at $484.08 on Tuesday. Lockheed Martin has a twelve month low of $413.92 and a twelve month high of $618.95. The stock has a market cap of $114.74 billion, a PE ratio of 17.53, a P/E/G ratio of 4.05 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. The business’s 50-day moving average price is $508.95 and its 200-day moving average price is $535.59.

Lockheed Martin (NYSE:LMT) last posted its 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. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the prior year, the firm posted $6.77 EPS. Lockheed Martin’s revenue was up 1.3% on a year-over-year basis. On average, equities analysts forecast that Lockheed Martin will post 26.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can grew its stake in shares of Lockheed Martin by 2.1% in the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after purchasing an additional 13,253 shares during the last quarter. Virtue Capital Management LLC lifted its holdings in Lockheed Martin by 112.8% in the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock worth $1,315,000 after buying an additional 1,192 shares during the period. Hilltop Holdings Inc. grew its position in shares of Lockheed Martin by 79.9% in the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after buying an additional 5,361 shares during the last quarter. Old West Investment Management LLC increased its stake in shares of Lockheed Martin by 6.6% during the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after buying an additional 1,643 shares during the period. Finally, Capital Investment Advisors LLC raised its holdings in shares of Lockheed Martin by 2.2% during the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after acquiring an additional 2,011 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

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.