Lockheed Martin (NYSE:LMT) Now Covered by Analysts at Truist Financial

Equities research analysts at Truist Financial began coverage on shares of Lockheed Martin (NYSE:LMT) in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $579.00 price target on the aerospace company’s stock. Truist Financial’s target price would indicate a potential upside of 19.70% from the company’s previous close.

Other research analysts have also recently issued reports about the company. TD Cowen upped their price objective on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price target for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. Citigroup increased their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. raised their price objective on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $590.40.

Lockheed Martin Stock Performance

Shares of LMT opened at $483.71 on Tuesday. Lockheed Martin has a 1 year low of $413.92 and a 1 year high of $618.95. The stock has a market capitalization of $114.66 billion, a PE ratio of 17.51, a PEG ratio of 4.05 and a beta of 0.48. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The stock has a 50-day simple moving average of $508.95 and a 200-day simple moving average of $535.59.

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

Institutional Investors Weigh In On Lockheed Martin

A number of hedge funds have recently added to or reduced their stakes in the company. CVA Family Office LLC raised its stake in shares of Lockheed Martin by 1.1% during the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after buying an additional 17 shares in the last quarter. AllGen Financial Advisors Inc. grew its holdings in Lockheed Martin by 4.0% during the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock worth $274,000 after acquiring an additional 18 shares during the period. Salomon & Ludwin LLC grew its holdings in Lockheed Martin by 20.5% during the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock worth $62,000 after acquiring an additional 18 shares during the period. Sunburst Financial Group LLC raised its position in Lockheed Martin by 3.3% in the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock worth $331,000 after acquiring an additional 18 shares in the last quarter. Finally, Quad Cities Investment Group LLC lifted its holdings in Lockheed Martin by 1.2% in the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after acquiring an additional 19 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

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.