Bank of America Has Lowered Expectations for Lockheed Martin (NYSE:LMT) Stock Price

Key Points

• Bank of America has reduced its price target for Lockheed Martin from $495.00 to $480.00, maintaining a "neutral" rating on the stock.
• Lockheed Martin is expected to see a potential upside of 7.52% from its current stock price according to the new price objective.
• Recent reports show a mix of ratings, with one analyst giving it a Strong Buy, five issuing Buy ratings, and fourteen rating it as Hold.

Lockheed Martin (NYSE:LMT - Get Free Report) had its price objective lowered by stock analysts at Bank of America from $495.00 to $480.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the aerospace company's stock. Bank of America's price objective indicates a potential upside of 7.69% from the stock's current price.

Several other analysts also recently weighed in on LMT. TD Cowen reaffirmed a "hold" rating and set a $480.00 price target (down previously from $500.00) on shares of Lockheed Martin in a research note on Thursday, July 10th. Cowen downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. Sanford C. Bernstein set a $551.00 price objective on shares of Lockheed Martin and gave the stock a "market perform" rating in a research note on Monday, July 14th. Vertical Research reissued a "hold" rating and issued a $460.00 price objective on shares of Lockheed Martin in a research note on Tuesday, July 22nd. Finally, Robert W. Baird reduced their price objective on shares of Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating for the company in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $506.35.

Lockheed Martin Trading Down 0.3%

Shares of Lockheed Martin stock traded down $1.4680 on Thursday, hitting $445.7320. 1,889,568 shares of the company traded hands, compared to its average volume of 1,705,822. The stock's 50 day moving average price is $448.65 and its 200-day moving average price is $456.34. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47. Lockheed Martin has a 52 week low of $410.11 and a 52 week high of $618.95. The company has a market cap of $104.06 billion, a PE ratio of 25.10, a PEG ratio of 1.57 and a beta of 0.27.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share for the quarter, beating the consensus estimate of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The firm had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. During the same quarter in the previous year, the firm posted $7.11 earnings per share. The company's revenue was up .2% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. Equities research analysts predict that Lockheed Martin will post 27.15 EPS for the current year.

Hedge Funds Weigh In On Lockheed Martin

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Lockheed Martin by 1.0% in the second quarter. Vanguard Group Inc. now owns 21,697,527 shares of the aerospace company's stock worth $10,048,993,000 after purchasing an additional 214,565 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Lockheed Martin by 7.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 8,031,528 shares of the aerospace company's stock worth $3,587,444,000 after purchasing an additional 560,457 shares during the last quarter. Geode Capital Management LLC grew its holdings in Lockheed Martin by 0.4% in the second quarter. Geode Capital Management LLC now owns 4,884,954 shares of the aerospace company's stock worth $2,256,147,000 after purchasing an additional 19,459 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Lockheed Martin by 1.4% during the first quarter. Royal Bank of Canada now owns 2,287,495 shares of the aerospace company's stock valued at $1,021,846,000 after buying an additional 31,443 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Lockheed Martin by 6.3% in the 4th quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company's stock valued at $1,098,667,000 after acquiring an additional 134,662 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

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.