Lockheed Martin (NYSE:LMT) Sees Unusually-High Trading Volume After Better-Than-Expected Earnings

Shares of Lockheed Martin Co. (NYSE:LMT – Get Rating) saw unusually-high trading volume on Tuesday after the company announced better than expected quarterly earnings. Approximately 357,996 shares changed hands during trading, a decline of 76% from the previous session’s volume of 1,479,053 shares.The stock last traded at $444.63 and had previously closed at $441.28.

The aerospace company reported $7.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.37 by $0.42. The company had revenue of $18.99 billion for the quarter, compared to the consensus estimate of $18.25 billion. Lockheed Martin had a net margin of 9.07% and a return on equity of 65.16%. Lockheed Martin’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.47 EPS.

Wall Street Analyst Weigh In

LMT has been the topic of a number of research reports. Susquehanna Bancshares reduced their price target on shares of Lockheed Martin from $539.00 to $510.00 and set a “positive” rating on the stock in a report on Wednesday, October 19th. Credit Suisse Group boosted their target price on shares of Lockheed Martin from $375.00 to $384.00 and gave the stock an “underperform” rating in a report on Wednesday, October 19th. Susquehanna reduced their target price on shares of Lockheed Martin from $539.00 to $510.00 and set a “positive” rating on the stock in a report on Wednesday, October 19th. Wells Fargo & Company boosted their target price on shares of Lockheed Martin from $415.00 to $417.00 and gave the stock an “underweight” rating in a report on Wednesday, October 19th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Lockheed Martin from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Monday, December 12th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $469.56.

Hedge Funds Weigh In On Lockheed Martin

A number of large investors have recently made changes to their positions in LMT. Better Money Decisions LLC purchased a new stake in Lockheed Martin in the 2nd quarter valued at about $33,000. IMA Wealth Inc. boosted its position in Lockheed Martin by 41.8% in the 2nd quarter. IMA Wealth Inc. now owns 78 shares of the aerospace company’s stock valued at $34,000 after buying an additional 23 shares during the period. Schubert & Co boosted its position in Lockheed Martin by 53.8% in the 2nd quarter. Schubert & Co now owns 80 shares of the aerospace company’s stock valued at $34,000 after buying an additional 28 shares during the period. Charter Oak Capital Management LLC purchased a new stake in Lockheed Martin in the 2nd quarter valued at about $36,000. Finally, Optiver Holding B.V. purchased a new stake in Lockheed Martin in the 3rd quarter valued at about $36,000. 75.18% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

The company has a market capitalization of $117.73 billion, a PE ratio of 20.63, a PEG ratio of 2.60 and a beta of 0.73. The company has a current ratio of 1.28, a quick ratio of 1.09 and a debt-to-equity ratio of 0.96. The firm’s 50-day simple moving average is $474.66 and its 200-day simple moving average is $444.10.

About Lockheed Martin

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Lockheed Martin Corp. is a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.