Lockheed Martin (NYSE:LMT) Price Target Cut to $465.00 by Analysts at JPMorgan Chase & Co.

Lockheed Martin (NYSE:LMT - Get Free Report) had its price target cut by equities researchers at JPMorgan Chase & Co. from $520.00 to $465.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the aerospace company's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 10.51% from the company's previous close.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group lowered their price objective on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. Susquehanna decreased their target price on Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a report on Wednesday. Royal Bank Of Canada cut their target price on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a research note on Wednesday. TD Cowen reaffirmed a "hold" rating and set a $480.00 price objective (down from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Finally, Vertical Research reaffirmed a "hold" rating and issued a $460.00 price objective on shares of Lockheed Martin in a research note on Tuesday. Fourteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $506.65.

Lockheed Martin Stock Up 0.3%

NYSE LMT traded up $1.38 during mid-day trading on Wednesday, hitting $420.77. The company's stock had a trading volume of 3,080,385 shares, compared to its average volume of 1,748,580. The company's 50 day simple moving average is $466.72 and its 200 day simple moving average is $463.00. Lockheed Martin has a twelve month low of $410.11 and a twelve month high of $618.95. The company has a current ratio of 0.98, a quick ratio of 0.91 and a debt-to-equity ratio of 3.47. The firm has a market capitalization of $98.23 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 1.83 and a beta of 0.28.

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 (EPS) 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 business had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. During the same quarter last year, the firm posted $7.11 EPS. Lockheed Martin's revenue was up .2% compared to the same quarter last year. Analysts anticipate that Lockheed Martin will post 27.15 earnings per share for the current year.

Institutional Trading of Lockheed Martin

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. OMNI 360 Wealth Inc. increased its stake in Lockheed Martin by 2.5% in the 1st quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company's stock worth $408,000 after acquiring an additional 22 shares during the last quarter. 49 Wealth Management LLC increased its stake in Lockheed Martin by 3.4% in the 1st quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company's stock worth $295,000 after acquiring an additional 22 shares during the last quarter. Tyler Stone Wealth Management increased its stake in Lockheed Martin by 3.3% in the 1st quarter. Tyler Stone Wealth Management now owns 684 shares of the aerospace company's stock worth $306,000 after acquiring an additional 22 shares during the last quarter. Investment Advisory Services Inc. TX ADV increased its stake in Lockheed Martin by 4.7% in the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 486 shares of the aerospace company's stock worth $225,000 after acquiring an additional 22 shares during the last quarter. Finally, Broadway Wealth Solutions Inc. increased its stake in Lockheed Martin by 4.5% in the 2nd quarter. Broadway Wealth Solutions Inc. now owns 511 shares of the aerospace company's stock worth $237,000 after acquiring an additional 22 shares during the last quarter. Institutional investors 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.