Lockheed Martin (NYSE:LMT) Earns Buy Rating from Analysts at Truist Financial

Truist Financial began coverage on shares of Lockheed Martin (NYSE:LMT) in a report issued on Tuesday, MarketBeat reports. The brokerage issued a buy rating and a $579.00 price target on the aerospace company’s stock.

A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Barclays reduced their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. TD Cowen lifted their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Susquehanna lowered their price objective on shares of Lockheed Martin from $695.00 to $590.00 and set a “positive” rating on the stock in a research report on Wednesday, January 8th. Finally, Citigroup boosted their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus price target of $590.40.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $484.08 on Tuesday. The company’s fifty day moving average price is $508.95 and its 200-day moving average price is $535.59. The stock has a market cap of $114.74 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. Lockheed Martin has a 12 month low of $413.92 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same quarter last year, the company earned $6.77 EPS. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities analysts expect that Lockheed Martin will post 26.88 EPS for the current fiscal year.

Institutional Trading of Lockheed Martin

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. purchased a new stake in Lockheed Martin during the third quarter worth $26,000. Mattson Financial Services LLC purchased a new stake in shares of Lockheed Martin during the 2nd quarter worth about $27,000. Burkett Financial Services LLC acquired a new stake in shares of Lockheed Martin during the 3rd quarter valued at about $32,000. Capital Performance Advisors LLP purchased a new position in shares of Lockheed Martin in the 3rd quarter valued at about $40,000. Finally, Legacy Investment Solutions LLC acquired a new position in Lockheed Martin in the 3rd quarter worth about $42,000. 74.19% of the stock is 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.