Lockheed Martin (NYSE:LMT) Trading 4.2% Higher Following Analyst Upgrade

Lockheed Martin Co. (NYSE:LMT) rose 4.2% during trading on Monday after Wells Fargo & Company raised their price target on the stock from $468.00 to $476.00. Wells Fargo & Company currently has an equal weight rating on the stock. Lockheed Martin traded as high as $493.91 and last traded at $493.39. Approximately 700,499 shares were traded during trading, a decline of 37% from the average daily volume of 1,112,950 shares. The stock had previously closed at $473.65.

Several other equities analysts have also commented on the company. StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Royal Bank of Canada cut their price objective on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Morgan Stanley dropped their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Finally, UBS Group lowered their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus price target of $554.20.

Insiders Place Their Bets

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the sale, the vice president now directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. The trade was a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock valued at $3,155,916 over the last quarter. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

Large investors have recently made changes to their positions in the business. Capital Performance Advisors LLP acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at $40,000. Assetmark Inc. lifted its position in shares of Lockheed Martin by 1.3% in the 3rd quarter. Assetmark Inc. now owns 1,470 shares of the aerospace company’s stock valued at $859,000 after acquiring an additional 19 shares in the last quarter. Lindbrook Capital LLC boosted its stake in Lockheed Martin by 1.5% in the 3rd quarter. Lindbrook Capital LLC now owns 1,877 shares of the aerospace company’s stock worth $1,097,000 after purchasing an additional 28 shares during the period. Tompkins Financial Corp grew its position in Lockheed Martin by 36.3% during the 3rd quarter. Tompkins Financial Corp now owns 154 shares of the aerospace company’s stock worth $90,000 after purchasing an additional 41 shares in the last quarter. Finally, Essex Savings Bank raised its stake in Lockheed Martin by 15.2% during the 3rd quarter. Essex Savings Bank now owns 3,336 shares of the aerospace company’s stock valued at $1,950,000 after purchasing an additional 440 shares during the period. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

The company has a market cap of $116.04 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The stock has a fifty day moving average price of $462.89 and a 200-day moving average price of $521.36. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. On average, equities analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.68%. Lockheed Martin’s dividend payout ratio is 59.30%.

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.