Lockheed Martin (NYSE:LMT) Price Target Raised to $700.00

Lockheed Martin (NYSE:LMT) had its target price increased by equities research analysts at Wells Fargo & Company from $600.00 to $700.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 9.79% from the stock’s previous close.

LMT has been the topic of a number of other research reports. Jefferies Financial Group reiterated a “hold” rating and set a $615.00 target price on shares of Lockheed Martin in a research note on Sunday, October 25th. Royal Bank Of Canada upped their price objective on Lockheed Martin from $550.00 to $600.00 and gave the company a “sector perform” rating in a report on Friday, October 23rd. Weiss Ratings upgraded shares of Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 9th. Rothschild & Co Redburn assumed coverage on shares of Lockheed Martin in a research note on Tuesday, October 6th. They issued a “buy” rating and a $650.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Lockheed Martin from $620.00 to $665.00 and gave the stock a “neutral” rating in a research report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $642.81.

Lockheed Martin Stock Up 0.1%

Shares of LMT opened at $637.60 on Monday. The firm has a market cap of $147.29 billion, a P/E ratio of 22.65, a price-to-earnings-growth ratio of 1.35 and a beta of 0.09. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.10 and a current ratio of 1.26. Lockheed Martin has a 52 week low of $437.25 and a 52 week high of $692.00. The firm’s 50-day simple moving average is $544.17 and its 200 day simple moving average is $568.87.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Thursday, October 22nd. The aerospace company reported $7.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.52 by $0.45. Lockheed Martin had a net margin of 8.23% and a return on equity of 83.41%. The firm had revenue of $20.71 billion during the quarter, compared to the consensus estimate of $20.48 billion. During the same period last year, the business posted $6.95 earnings per share. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, analysts forecast that Lockheed Martin will post 30.66 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Pathway Financial Advisers LLC boosted its holdings in shares of Lockheed Martin by 0.7% in the 3rd quarter. Pathway Financial Advisers LLC now owns 6,386 shares of the aerospace company’s stock valued at $3,252,000 after purchasing an additional 47 shares in the last quarter. Kestra Private Wealth Services LLC increased its stake in shares of Lockheed Martin by 6.6% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 47,281 shares of the aerospace company’s stock valued at $24,078,000 after purchasing an additional 2,919 shares during the last quarter. Jmac Enterprises LLC raised its holdings in shares of Lockheed Martin by 42.7% during the 3rd quarter. Jmac Enterprises LLC now owns 2,672 shares of the aerospace company’s stock worth $1,361,000 after buying an additional 800 shares in the last quarter. Optimist Retirement Group LLC raised its holdings in shares of Lockheed Martin by 2.9% during the 3rd quarter. Optimist Retirement Group LLC now owns 4,466 shares of the aerospace company’s stock worth $2,274,000 after buying an additional 124 shares in the last quarter. Finally, Covestor Ltd raised its holdings in shares of Lockheed Martin by 13.5% during the 3rd quarter. Covestor Ltd now owns 177 shares of the aerospace company’s stock worth $90,000 after buying an additional 21 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

About Lockheed Martin

Lockheed Martin Corporation is a global security and aerospace company headquartered in Bethesda, Maryland. Formed in 1995 through the merger of Lockheed Corporation and Martin Marietta, the company develops and produces advanced defense, aerospace, and technology systems for government and commercial customers.

Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. Products and services include military aircraft such as the F-35 Lightning II, C-130 Hercules, and F-16 Fighting Falcon; missile-defense and precision-strike systems; helicopters and naval systems; command, control, communications, and intelligence technologies; satellites; space exploration systems; and other classified space and defense programs.

Lockheed Martin serves the U.S.