Lockheed Martin Corp (NYSE:LMT) reaching 52-week high, short interest dropping

Lockheed Martin Corp (NYSE:LMT) (Trend Analysis) shares were traded with thin volume. The stock closed last trading session at $257.27, up by 1.5%, with a volume of 2,625,325 shares against an average amount for the last three months of 2,680,970.

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Lockheed Martin Corp (NYSE:LMT) stock is currently trading 3.62% below its 52-week-high, 28.33% above its 52-week-low. The 1-year stock price history is in the range of $200.47 – $266.93. Lockheed Martin Corp (LMT) has a price to earnings ratio of 15.05 versus Industrial Goods sector average of 36.38. LMT stock price has outperformed the S&P 500 by 13.2%. The Aerospace & Defense company is currently valued at $75.37 billion, and its share price closed the last trading session at $257.27. The stock has a 50-day moving average of $239.79 and a 200-day moving average of $244.07.

Lockheed Martin Corp (LMT) current short interest stands at 1.95 million shares. It has decreased by 30% from the same period of last month. Around 1% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1.67 million shares, the number of days required to cover the short positions stand at 1.2 days.

LMT is forecasted to report earnings per share of $3.01 and a revenue of $13.01 billion for the 4th Quarter of the fiscal year 2016. Lockheed Martin Corp (LMT) declared last quarter earnings on October 25. The Aerospace & Defense company announced last quarter earnings per share of $3.61 against a consensus Street estimate of $2.86, beating the average estimate by $0.75. The company posted a revenue of $11.55 billion compared to an estimation of $11.44 billion.

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There are currently twenty-one analysts that cover Lockheed Martin Corp stock. Of those twenty-one, seven have a Buy rating, thirteen have a Hold rating and one has a Sell rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $265.88.

A recent analyst activity consisted of Vertical Group who initiated their coverage on the stock with Hold rating on October 28. On the date of report, the stock closed at $248.

Baird initiated their coverage on the stock with Outperform rating on October 6, and fixed their price target at $284. This corresponds to a 10.39% upside from the last closing price. On the date of report, the stock closed at $234.72.

Another research firm was Wells Fargo who upgraded their Market Perform rating to Outperform on September 19. On the date of report, the stock closed at $240.88.

Company snapshot

Lockheed Martin Corporation is a global security company that primarily researches, designs, develops, manufactures, and integrates advanced technology products and services. The Company’s businesses span space, telecommunications, electronics, information and services, aeronautics, energy, and systems integration. Lockheed Martin operates worldwide.

Lockheed Martin Corp (NYSE:LMT) reaching 52-week high, short interest dropping was last modified: November 11th, 2016 by Pat Mayfield