UBS Group Raises Lockheed Martin (NYSE:LMT) Price Target to $603.00

Lockheed Martin (NYSE:LMT) had its target price hoisted by equities researchers at UBS Group from $589.00 to $603.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the aerospace company’s stock. UBS Group’s target price would suggest a potential upside of 4.73% from the company’s current price.

LMT has been the topic of several other reports. Barclays increased their target price on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. Royal Bank of Canada increased their target price on Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Morgan Stanley increased their target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Finally, TD Cowen raised Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $603.86.

Lockheed Martin Stock Performance

Shares of LMT stock traded down $1.23 on Wednesday, hitting $575.75. 381,740 shares of the stock traded hands, compared to its average volume of 1,049,398. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The company has a market capitalization of $138.14 billion, a PE ratio of 21.07, a PEG ratio of 4.84 and a beta of 0.47. Lockheed Martin has a 1-year low of $413.92 and a 1-year high of $618.95. The company’s fifty day moving average is $579.79 and its 200 day moving average is $513.10.

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, beating the consensus estimate 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 95.03% and a net margin of 9.48%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company posted $6.77 EPS. On average, equities research analysts predict that Lockheed Martin will post 26.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ameriprise Financial Inc. boosted its position in shares of Lockheed Martin by 1.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after purchasing an additional 31,545 shares during the period. International Assets Investment Management LLC boosted its position in shares of Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after purchasing an additional 1,556,609 shares during the period. Legal & General Group Plc boosted its position in shares of Lockheed Martin by 14.9% in the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after purchasing an additional 180,074 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Lockheed Martin by 11.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock valued at $546,144,000 after purchasing an additional 119,052 shares during the period. Finally, Wulff Hansen & CO. boosted its position in shares of 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 purchasing an additional 1,019,281 shares during the period. 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.