Lockheed Martin (NYSE:LMT) Price Target Increased to $480.00 by Analysts at Wells Fargo & Company

Lockheed Martin (NYSE:LMT) had its price target lifted by Wells Fargo & Company from $460.00 to $480.00 in a research note released on Thursday, Benzinga reports. They currently have an equal weight rating on the aerospace company’s stock.

A number of other research analysts also recently issued reports on LMT. UBS Group boosted their price target on Lockheed Martin from $482.00 to $499.00 and gave the company a neutral rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft upped their target price on Lockheed Martin from $467.00 to $487.00 and gave the stock a hold rating in a report on Thursday. Citigroup upped their target price on Lockheed Martin from $508.00 to $525.00 and gave the stock a buy rating in a report on Wednesday. JPMorgan Chase & Co. upgraded Lockheed Martin from a neutral rating to an overweight rating and upped their target price for the stock from $475.00 to $518.00 in a report on Monday, April 15th. Finally, Susquehanna cut their price target on Lockheed Martin from $550.00 to $540.00 and set a positive rating on the stock in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Lockheed Martin presently has a consensus rating of Hold and a consensus target price of $485.40.

Lockheed Martin Price Performance

NYSE:LMT traded down $3.27 during trading hours on Thursday, hitting $461.51. 374,961 shares of the company’s stock traded hands, compared to its average volume of 1,161,911. The company has a quick ratio of 1.03, a current ratio of 1.30 and a debt-to-equity ratio of 2.89. The business’s fifty day simple moving average is $443.00 and its two-hundred day simple moving average is $444.29. Lockheed Martin has a 52 week low of $393.77 and a 52 week high of $479.50. The firm has a market cap of $110.73 billion, a P/E ratio of 17.02, a P/E/G ratio of 4.20 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.80 by $0.53. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The firm had revenue of $17.20 billion during the quarter, compared to analyst estimates of $16.04 billion. During the same quarter in the previous year, the company posted $6.43 earnings per share. The company’s revenue was up 13.7% compared to the same quarter last year. On average, research analysts anticipate that Lockheed Martin will post 26.04 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Gregory M. Ulmer sold 6,204 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total value of $2,675,102.76. Following the completion of the sale, the insider now directly owns 12,604 shares in the company, valued at approximately $5,434,718.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total value of $1,747,116.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gregory M. Ulmer sold 6,204 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total value of $2,675,102.76. Following the completion of the sale, the insider now owns 12,604 shares of the company’s stock, valued at approximately $5,434,718.76. The disclosure for this sale can be found here. Insiders have sold 16,874 shares of company stock valued at $7,249,946 in the last ninety days. 0.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LMT. Caprock Group LLC lifted its holdings in shares of Lockheed Martin by 1.5% in the 3rd quarter. Caprock Group LLC now owns 1,746 shares of the aerospace company’s stock valued at $714,000 after acquiring an additional 26 shares during the last quarter. Advisory Alpha LLC lifted its stake in Lockheed Martin by 13.8% in the third quarter. Advisory Alpha LLC now owns 1,737 shares of the aerospace company’s stock worth $711,000 after purchasing an additional 211 shares during the last quarter. Secure Asset Management LLC lifted its stake in Lockheed Martin by 2.9% in the third quarter. Secure Asset Management LLC now owns 1,318 shares of the aerospace company’s stock worth $539,000 after purchasing an additional 37 shares during the last quarter. Oak Thistle LLC lifted its stake in Lockheed Martin by 66.0% in the third quarter. Oak Thistle LLC now owns 2,143 shares of the aerospace company’s stock worth $876,000 after purchasing an additional 852 shares during the last quarter. Finally, Spirit of America Management Corp NY lifted its stake in Lockheed Martin by 33.3% in the third quarter. Spirit of America Management Corp NY now owns 400 shares of the aerospace company’s stock worth $164,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

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.