Barclays Cuts Lockheed Martin (NYSE:LMT) Price Target to $515.00

Lockheed Martin (NYSE:LMT) had its price target trimmed by Barclays from $565.00 to $515.00 in a report released on Monday,Benzinga reports. The firm currently has an equal weight rating on the aerospace company’s stock.

A number of other research firms also recently commented on LMT. Wells Fargo & Company dropped their price objective on Lockheed Martin from $602.00 to $543.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Friday, January 3rd. Citigroup lifted their price objective on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Royal Bank of Canada decreased their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Robert W. Baird increased their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $591.21.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $468.61 on Monday. The stock has a market capitalization of $111.08 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. Lockheed Martin has a 52-week low of $413.92 and a 52-week high of $618.95. The stock’s 50-day moving average price is $514.50 and its 200 day moving average price is $534.89.

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

Institutional Investors Weigh In On Lockheed Martin

Several large investors have recently modified their holdings of the business. InvesTrust acquired a new position in shares of Lockheed Martin during the 4th quarter worth approximately $935,000. Private Client Services LLC bought a new position in shares of Lockheed Martin during the fourth quarter worth approximately $214,000. Park National Corp OH increased its position in Lockheed Martin by 0.7% during the 4th quarter. Park National Corp OH now owns 72,846 shares of the aerospace company’s stock worth $35,399,000 after buying an additional 482 shares during the period. Innova Wealth Partners acquired a new stake in Lockheed Martin in the 4th quarter worth about $269,000. Finally, Range Financial Group LLC grew its position in Lockheed Martin by 158.2% during the fourth quarter. Range Financial Group LLC now owns 2,505 shares of the aerospace company’s stock worth $1,217,000 after buying an additional 1,535 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

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.