Lockheed Martin (NYSE:LMT) Trading 2.3% Higher – What’s Next?

Lockheed Martin Corporation (NYSE:LMT)’s stock price traded up 2.3% during mid-day trading on Tuesday . The stock traded as high as $595.87 and last traded at $595.03. 1,702,647 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 2,223,278 shares. The stock had previously closed at $581.66.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on LMT shares. Royal Bank Of Canada raised their price target on Lockheed Martin from $440.00 to $525.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 7th. Morgan Stanley reaffirmed an “equal weight” rating and set a $543.00 price target (down from $630.00) on shares of Lockheed Martin in a research note on Tuesday, December 16th. Truist Financial set a $605.00 price objective on shares of Lockheed Martin and gave the stock a “buy” rating in a research report on Friday, January 9th. Sanford C. Bernstein reissued a “market perform” rating and issued a $586.00 price objective on shares of Lockheed Martin in a research note on Monday, January 12th. Finally, BNP Paribas Exane upped their target price on Lockheed Martin from $550.00 to $570.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. Five equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and a consensus target price of $543.82.

Lockheed Martin Stock Up 2.3%

The company has a quick ratio of 0.97, a current ratio of 1.13 and a debt-to-equity ratio of 3.32. The stock has a market cap of $137.69 billion, a P/E ratio of 33.22, a P/E/G ratio of 1.69 and a beta of 0.24. The company’s 50 day moving average price is $498.14 and its two-hundred day moving average price is $476.96.

Hedge Funds Weigh In On Lockheed Martin

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Lockheed Martin by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 21,697,527 shares of the aerospace company’s stock valued at $10,048,993,000 after purchasing an additional 214,565 shares in the last quarter. Geode Capital Management LLC raised its stake in Lockheed Martin by 0.4% in the second quarter. Geode Capital Management LLC now owns 4,884,954 shares of the aerospace company’s stock worth $2,256,147,000 after buying an additional 19,459 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Lockheed Martin by 3.4% during the third quarter. Wellington Management Group LLP now owns 2,384,753 shares of the aerospace company’s stock worth $1,190,493,000 after buying an additional 79,491 shares during the period. Invesco Ltd. boosted its position in Lockheed Martin by 4.2% during the 3rd quarter. Invesco Ltd. now owns 2,196,058 shares of the aerospace company’s stock valued at $1,096,294,000 after acquiring an additional 87,663 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Lockheed Martin by 6.6% in the 3rd quarter. Legal & General Group Plc now owns 1,022,940 shares of the aerospace company’s stock valued at $510,662,000 after acquiring an additional 63,430 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

About Lockheed Martin

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.