Lockheed Martin (NYSE:LMT) Trading Up 1.4% - Time to Buy?

Key Points

• Lockheed Martin's stock rose 1.4% during mid-day trading, reaching a high of $499.89, but saw a trading volume decline of 19% compared to its average.
• Analysts have revised their price targets for Lockheed Martin, with JPMorgan reducing it from $520 to $465, and UBS cutting their target from $498 to $453, reflecting a cautious outlook.
• The company reported $7.29 EPS for Q2, surpassing estimates, but its revenue of $18.16 billion fell short of expectations, highlighting mixed performance amid a strong earnings report.

Lockheed Martin Corporation (NYSE:LMT - Get Free Report) rose 1.4% during mid-day trading on Tuesday . The stock traded as high as $499.89 and last traded at $499.10. Approximately 1,310,874 shares were traded during trading, a decline of 19% from the average daily volume of 1,628,361 shares. The stock had previously closed at $491.98.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LMT shares. JPMorgan Chase & Co. cut their target price on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Susquehanna dropped their price target on Lockheed Martin from $550.00 to $490.00 and set a "positive" rating on the stock in a report on Wednesday, July 23rd. Cowen cut Lockheed Martin from a "buy" rating to a "hold" rating in a report on Thursday, July 10th. Wall Street Zen cut Lockheed Martin from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, UBS Group dropped their price target on Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, Lockheed Martin has an average rating of "Hold" and an average price target of $494.00.

Lockheed Martin Stock Performance

The firm's 50 day simple moving average is $449.28 and its 200-day simple moving average is $459.76. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.83 and a current ratio of 0.98. The company has a market capitalization of $116.52 billion, a price-to-earnings ratio of 28.10, a P/E/G ratio of 1.71 and a beta of 0.26.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 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 for the quarter, compared to analysts' expectations of $18.59 billion. During the same period in the previous year, the company posted $7.11 EPS. Lockheed Martin'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. Analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Hedge Funds Weigh In On Lockheed Martin

Several institutional investors and hedge funds have recently modified their holdings of the stock. Tableaux LLC raised its holdings in Lockheed Martin by 34,231.4% during the second quarter. Tableaux LLC now owns 623,115 shares of the aerospace company's stock valued at $288,589,000 after buying an additional 621,300 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 valued at $3,587,444,000 after buying an additional 560,457 shares during the period. Nuveen LLC bought a new stake in shares of Lockheed Martin in the first quarter valued at about $221,790,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Lockheed Martin by 169.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 572,272 shares of the aerospace company's stock worth $265,030,000 after purchasing an additional 359,748 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in Lockheed Martin by 76.7% in the first quarter. AQR Capital Management LLC now owns 808,232 shares of the aerospace company's stock worth $361,045,000 after purchasing an additional 350,796 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.