Lockheed Martin (NYSE:LMT) Given New $603.00 Price Target at UBS Group

Lockheed Martin (NYSE:LMT) had its price target hoisted by equities researchers at UBS Group from $589.00 to $603.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the aerospace company’s stock. UBS Group’s target price would suggest a potential upside of 6.88% from the company’s current price.

A number of other equities research analysts have also weighed in on LMT. Wells Fargo & Company boosted their price objective on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a research note on Tuesday, September 3rd. Robert W. Baird lifted their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday. TD Cowen raised shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, October 8th. Finally, Citigroup boosted their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $606.71.

Lockheed Martin Stock Down 1.2 %

Shares of NYSE LMT opened at $564.21 on Wednesday. The stock has a 50-day moving average price of $579.95 and a two-hundred day moving average price of $513.50. Lockheed Martin has a 12 month low of $413.92 and a 12 month high of $618.95. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The company has a market cap of $135.38 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. The business 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 9.48% and a return on equity of 95.03%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.77 EPS. As a group, analysts forecast that Lockheed Martin will post 26.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. increased its stake 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 acquiring an additional 31,545 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Lockheed Martin by 60,592.0% in the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after purchasing an additional 1,556,609 shares during the period. Legal & General Group Plc increased its stake in Lockheed Martin by 14.9% in the second 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 in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Lockheed Martin by 11.3% during the second 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% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after purchasing an additional 1,019,281 shares in the last quarter. 74.19% of the stock is 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.