Lockheed Martin (NYSE:LMT) Price Target Increased to $610.00 by Analysts at TD Cowen

Lockheed Martin (NYSE:LMT) had its price objective upped by analysts at TD Cowen from $560.00 to $610.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the aerospace company’s stock. TD Cowen’s target price suggests a potential upside of 8.12% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley lifted their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Citigroup lifted their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Barclays upped their price objective on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company raised their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Finally, UBS Group boosted their price target on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $606.71.

Lockheed Martin Stock Performance

NYSE:LMT opened at $564.21 on Wednesday. The company has a market cap of $135.38 billion, a P/E ratio of 20.64, a P/E/G ratio of 4.84 and a beta of 0.47. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The firm’s 50 day moving average is $579.95 and its two-hundred day moving average is $513.50. Lockheed Martin has a fifty-two week low of $413.92 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.77 earnings per share. Analysts expect that Lockheed Martin will post 26.68 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Stokes Family Office LLC acquired a new stake in shares of Lockheed Martin during the first quarter worth approximately $425,000. Wealthcare Advisory Partners LLC lifted its position in shares of Lockheed Martin by 15.4% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 9,681 shares of the aerospace company’s stock worth $4,404,000 after purchasing an additional 1,291 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Lockheed Martin by 9.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 132,611 shares of the aerospace company’s stock worth $60,321,000 after buying an additional 11,970 shares during the last quarter. Chesley Taft & Associates LLC boosted its holdings in Lockheed Martin by 5.3% in the 1st quarter. Chesley Taft & Associates LLC now owns 2,001 shares of the aerospace company’s stock valued at $910,000 after purchasing an additional 100 shares during the period. Finally, Thrive Wealth Management LLC lifted its stake in shares of Lockheed Martin by 1.1% in the first quarter. Thrive Wealth Management LLC now owns 3,736 shares of the aerospace company’s stock valued at $1,699,000 after buying an additional 39 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

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.