Lockheed Martin (NYSE:LMT) Shares Up 2.3% – Time to Buy?

Shares of Lockheed Martin Corporation (NYSE:LMT) traded up 2.3% on Friday . The company traded as high as $624.09 and last traded at $623.25. 1,089,305 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 2,185,404 shares. The stock had previously closed at $609.18.

Wall Street Analysts Forecast Growth

LMT has been the subject of a number of analyst reports. Citigroup boosted their target price on shares of Lockheed Martin from $592.00 to $673.00 and gave the company a “neutral” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on Lockheed Martin from $515.00 to $680.00 and gave the company a “neutral” rating in a report on Friday, January 30th. BNP Paribas Exane boosted their price objective on Lockheed Martin from $550.00 to $570.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Jefferies Financial Group raised their target price on Lockheed Martin from $540.00 to $630.00 and gave the company a “hold” rating in a research report on Sunday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Lockheed Martin from $492.00 to $611.00 and gave the company a “hold” rating in a research note on Friday, January 30th. Five investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $612.50.

Lockheed Martin Stock Up 2.3%

The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.94 and a current ratio of 1.09. The company has a market cap of $143.40 billion, a P/E ratio of 29.00, a P/E/G ratio of 1.37 and a beta of 0.23. The stock has a 50 day moving average price of $522.92 and a 200 day moving average price of $484.97.

Lockheed Martin (NYSE:LMT) last released its earnings results on Thursday, January 29th. The aerospace company reported $5.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.53). Lockheed Martin had a return on equity of 108.53% and a net margin of 6.69%.The firm had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same period in the previous year, the firm earned $7.67 earnings per share. Lockheed Martin’s revenue was up 9.1% on a year-over-year basis. Research analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Institutional Trading of Lockheed Martin

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Lockheed Martin by 1.0% during 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 acquiring an additional 214,565 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Lockheed Martin by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 4,884,954 shares of the aerospace company’s stock worth $2,256,147,000 after acquiring an additional 19,459 shares during the last quarter. Wellington Management Group LLP raised its position in shares of 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 purchasing an additional 79,491 shares during the period. Invesco Ltd. lifted its holdings in shares of Lockheed Martin by 4.2% during the third quarter. Invesco Ltd. now owns 2,196,058 shares of the aerospace company’s stock valued at $1,096,294,000 after purchasing an additional 87,663 shares during the last quarter. Finally, Legal & General Group Plc boosted its position 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 purchasing an additional 63,430 shares during the period. 74.19% of the stock is currently owned by institutional investors.

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.