UBS Group Increases Lockheed Martin (NYSE:LMT) Price Target to $538.00

Lockheed Martin (NYSE:LMT) had its price objective lifted by UBS Group from $511.00 to $538.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the aerospace company’s stock. UBS Group’s target price indicates a potential upside of 5.39% from the company’s previous close.

A number of other brokerages have also recently commented on LMT. JPMorgan Chase & Co. upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $475.00 to $518.00 in a report on Monday, April 15th. The Goldman Sachs Group dropped their price objective on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research note on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Lockheed Martin from $467.00 to $487.00 and gave the stock a “hold” rating in a report on Thursday, April 25th. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Finally, Susquehanna boosted their target price on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin has an average rating of “Hold” and an average price target of $502.09.

Lockheed Martin Price Performance

Shares of LMT stock traded up $9.19 during mid-day trading on Wednesday, hitting $510.48. The company had a trading volume of 918,369 shares, compared to its average volume of 1,067,501. The company has a market capitalization of $122.48 billion, a P/E ratio of 18.55, a P/E/G ratio of 4.48 and a beta of 0.46. The stock’s 50 day moving average price is $466.26 and its 200-day moving average price is $452.54. Lockheed Martin has a 52-week low of $393.77 and a 52-week high of $513.08. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.11.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The firm had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. During the same period in the prior year, the company earned $6.73 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities research analysts forecast that Lockheed Martin will post 26.1 earnings per share for the current year.

Hedge Funds Weigh In On Lockheed Martin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HTLF Bank boosted its stake in Lockheed Martin by 3.7% in the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after acquiring an additional 20 shares in the last quarter. Hudock Inc. boosted its holdings in Lockheed Martin by 1.3% in the first quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock worth $801,000 after acquiring an additional 22 shares in the last quarter. American Trust grew its stake in shares of Lockheed Martin by 1.8% during the first quarter. American Trust now owns 1,394 shares of the aerospace company’s stock worth $634,000 after acquiring an additional 24 shares during the last quarter. Norris Perne & French LLP MI raised its position in shares of Lockheed Martin by 2.8% in the 4th quarter. Norris Perne & French LLP MI now owns 905 shares of the aerospace company’s stock valued at $410,000 after purchasing an additional 25 shares during the last quarter. Finally, Genesee Capital Advisors LLC boosted its stake in Lockheed Martin by 2.8% in the 4th quarter. Genesee Capital Advisors LLC now owns 923 shares of the aerospace company’s stock worth $419,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Company Profile

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.