Lockheed Martin (NYSE:LMT) Price Target Cut to $554.00 by Analysts at Truist Financial

Lockheed Martin (NYSE:LMT - Get Free Report) had its target price decreased by equities research analysts at Truist Financial from $579.00 to $554.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the aerospace company's stock. Truist Financial's price target points to a potential upside of 18.51% from the stock's previous close.

Several other equities analysts have also weighed in on the stock. UBS Group increased their price objective on shares of Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a research report on Wednesday, April 23rd. Baird R W raised shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company dropped their price objective on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Melius Research lowered shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Finally, Bank of America lowered shares of Lockheed Martin from a "buy" rating to a "neutral" rating and decreased their target price for the company from $685.00 to $485.00 in a report on Monday, March 24th. Ten equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $531.47.

Lockheed Martin Trading Up 0.7%

NYSE LMT traded up $3.17 during trading on Friday, reaching $467.48. 1,208,544 shares of the stock traded hands, compared to its average volume of 1,364,460. The firm has a market cap of $109.53 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 1.63 and a beta of 0.28. The stock's 50-day moving average price is $469.54 and its 200 day moving average price is $465.01. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 2.79. Lockheed Martin has a fifty-two week low of $418.88 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. The company had revenue of $17.96 billion during the quarter, compared to analysts' expectations of $17.83 billion. Analysts predict that Lockheed Martin will post 27.15 EPS for the current year.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds and other institutional investors have recently made changes to their positions in LMT. TruNorth Capital Management LLC purchased a new stake in Lockheed Martin during the first quarter valued at about $31,000. Millstone Evans Group LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter worth about $32,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Lockheed Martin in the fourth quarter worth about $34,000. Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter worth about $35,000. Finally, Redwood Park Advisors LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter worth about $40,000. 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.