Barclays Lowers Lockheed Martin (NYSE:LMT) Price Target to $515.00

Lockheed Martin (NYSE:LMT) had its price objective dropped by equities research analysts at Barclays from $565.00 to $515.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the aerospace company’s stock. Barclays‘s price objective would indicate a potential upside of 9.31% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. Royal Bank of Canada decreased their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their target price on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday. TD Cowen upped their target price on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Robert W. Baird lifted 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 issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus price target of $601.79.

Lockheed Martin Price Performance

NYSE:LMT traded down $10.69 during mid-day trading on Monday, hitting $471.13. 794,708 shares of the company’s stock traded hands, compared to its average volume of 839,024. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. Lockheed Martin has a 1 year low of $413.92 and a 1 year high of $618.95. The company has a market cap of $111.67 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. The firm’s 50 day simple moving average is $519.47 and its 200 day simple moving average is $535.38.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share 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 net margin of 9.36% and a return on equity of 101.44%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.77 EPS. Sell-side analysts expect that Lockheed Martin will post 26.88 EPS for the current year.

Hedge Funds Weigh In On Lockheed Martin

Several hedge funds and other institutional investors have recently made changes to their positions in LMT. International Assets Investment Management LLC increased its stake in Lockheed Martin by 60,592.0% during 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 buying an additional 1,556,609 shares during the period. Wulff Hansen & CO. boosted its position in shares of Lockheed Martin by 56,626.7% during 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 in the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Lockheed Martin by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock worth $263,561,000 after purchasing an additional 249,591 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after purchasing an additional 240,306 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after purchasing an additional 209,591 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

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.