Lockheed Martin (NYSE:LMT) Trading 2.9% Higher – Still a Buy?

Shares of Lockheed Martin Co. (NYSE:LMT) shot up 2.9% during mid-day trading on Tuesday . The company traded as high as $505.83 and last traded at $504.74. 424,172 shares traded hands during trading, a decline of 61% from the average session volume of 1,082,789 shares. The stock had previously closed at $490.32.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LMT shares. Truist Financial began coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. StockNews.com cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 3rd. Royal Bank of Canada dropped their price target 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. TD Cowen boosted their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird boosted their price target on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and an average target price of $577.73.

Lockheed Martin Stock Down 0.5 %

The company has a market cap of $117.79 billion, a P/E ratio of 17.99, a PEG ratio of 4.11 and a beta of 0.48. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The business’s 50 day moving average price is $500.84 and its 200-day moving average price is $536.25.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.77 EPS. On average, analysts anticipate that Lockheed Martin Co. will post 26.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lockheed Martin

Hedge funds have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new position in Lockheed Martin in the third quarter valued at approximately $26,000. Burkett Financial Services LLC acquired a new position in Lockheed Martin in the third quarter valued at about $32,000. Mattson Financial Services LLC bought a new position in Lockheed Martin during the second quarter worth about $27,000. Capital Performance Advisors LLP acquired a new position in shares of Lockheed Martin during the 3rd quarter worth about $40,000. Finally, Heck Capital Advisors LLC bought a new stake in Lockheed Martin in the fourth quarter valued at approximately $35,000. Institutional investors 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.