Wells Fargo & Company Increases Lockheed Martin (NYSE:LMT) Price Target to $480.00

Lockheed Martin (NYSE:LMT) had its target price boosted by equities researchers at Wells Fargo & Company from $460.00 to $480.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 4.06% from the stock’s previous close.

Several other brokerages have also recently issued reports on LMT. JPMorgan Chase & Co. raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $475.00 to $518.00 in a report on Monday, April 15th. Royal Bank of Canada reduced 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 report on Wednesday, January 24th. UBS Group raised their target price on shares of Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a report on Wednesday. The Goldman Sachs Group dropped their price target on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $485.40.

Lockheed Martin Trading Down 0.8 %

NYSE LMT opened at $461.28 on Thursday. The company has a fifty day simple moving average of $443.74 and a two-hundred day simple moving average of $444.46. The stock has a market cap of $110.68 billion, a P/E ratio of 16.88, a P/E/G ratio of 4.20 and a beta of 0.48. Lockheed Martin has a 12-month low of $393.77 and a 12-month high of $479.50. The company has a current ratio of 1.30, a quick ratio of 1.03 and a debt-to-equity ratio of 2.89.

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

Insider Activity

In other news, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $425.35, for a total value of $2,827,726.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Gregory M. Ulmer sold 6,204 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the transaction, the insider now directly 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 accessible through this hyperlink. Also, COO John Frank A. St sold 6,648 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $425.35, for a total transaction of $2,827,726.80. The disclosure for this sale can be found here. Insiders have sold a total of 16,874 shares of company stock worth $7,249,946 over the last 90 days. 0.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors and hedge funds have recently bought and sold shares of the business. First Pacific Financial acquired a new position in Lockheed Martin during the first quarter worth about $25,000. Bank Julius Baer & Co. Ltd Zurich raised its stake in Lockheed Martin by 73.0% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 64 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 27 shares during the period. Altshuler Shaham Ltd purchased a new position in Lockheed Martin during the fourth quarter worth about $26,000. Activest Wealth Management raised its stake in Lockheed Martin by 1,200.0% during the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 60 shares during the period. Finally, Milestone Investment Advisors LLC purchased a new position in Lockheed Martin during the third quarter worth about $33,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

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.