Lockheed Martin (NYSE:LMT) Stock Rating Upgraded by JPMorgan Chase & Co.

Lockheed Martin (NYSE:LMT) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Monday, Marketbeat Ratings reports. The firm presently has a $518.00 price target on the aerospace company’s stock, up from their previous price target of $475.00. JPMorgan Chase & Co.‘s target price indicates a potential upside of 15.01% from the stock’s current price.

Several other analysts have also recently weighed in on LMT. Citigroup reduced their target price on shares of Lockheed Martin from $540.00 to $508.00 and set a “buy” rating on the stock in a report on Wednesday, January 24th. Susquehanna reduced their price objective on shares of Lockheed Martin from $550.00 to $540.00 and set a “positive” rating on the stock in a report on Wednesday, January 24th. Royal Bank of Canada lowered their target price on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 24th. UBS Group cut their price target on Lockheed Martin from $488.00 to $475.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. Finally, Morgan Stanley lowered their price objective on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Hold” and an average price target of $493.36.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $450.40 on Monday. The company’s 50 day moving average is $436.96 and its two-hundred day moving average is $441.40. The firm has a market cap of $108.32 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 4.11 and a beta of 0.48. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 2.53. Lockheed Martin has a 52-week low of $393.77 and a 52-week high of $508.10.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, January 23rd. The aerospace company reported $7.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.26 by $0.64. Lockheed Martin had a return on equity of 79.91% and a net margin of 10.24%. The firm had revenue of $18.87 billion during the quarter, compared to analyst estimates of $17.96 billion. During the same period last year, the business posted $7.79 earnings per share. Lockheed Martin’s revenue was down .6% compared to the same quarter last year. On average, research analysts expect that Lockheed Martin will post 26.13 EPS for the current fiscal year.

Insider Buying and Selling at Lockheed Martin

In related news, SVP Maryanne Lavan sold 4,022 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Gregory M. Ulmer sold 6,204 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the completion of the sale, the insider now owns 12,604 shares in the company, valued at $5,434,718.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maryanne Lavan sold 4,022 shares of Lockheed Martin stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total transaction of $1,747,116.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,874 shares of company stock worth $7,249,946. 0.14% of the stock is owned by insiders.

Institutional Trading of Lockheed Martin

Several hedge funds have recently made changes to their positions in LMT. State Street Corp raised its holdings in Lockheed Martin by 0.5% during the first quarter. State Street Corp now owns 37,972,543 shares of the aerospace company’s stock worth $17,950,761,000 after purchasing an additional 176,739 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Lockheed Martin by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock valued at $9,120,920,000 after buying an additional 279,162 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Lockheed Martin by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,686,937 shares of the aerospace company’s stock worth $2,302,388,000 after acquiring an additional 97,916 shares during the period. Wellington Management Group LLP grew its holdings in Lockheed Martin by 4.0% during the third quarter. Wellington Management Group LLP now owns 3,158,783 shares of the aerospace company’s stock worth $1,291,816,000 after acquiring an additional 121,358 shares during the period. Finally, Franklin Resources Inc. raised its position in Lockheed Martin by 14.9% in the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock worth $1,173,641,000 after acquiring an additional 336,588 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

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.