JPMorgan Chase & Co. Upgrades Lockheed Martin (NYSE:LMT) to Overweight

JPMorgan Chase & Co. upgraded shares of Lockheed Martin (NYSE:LMT) from a neutral rating to an overweight rating in a research report released on Monday, MarketBeat.com reports. The brokerage currently has $518.00 price objective on the aerospace company’s stock, up from their previous price objective of $475.00.

Other research analysts have also issued research reports about the company. Morgan Stanley lowered their price objective on Lockheed Martin from $513.00 to $503.00 and set an equal weight rating on the stock in a report on Wednesday, January 24th. Susquehanna lowered their price objective on Lockheed Martin from $550.00 to $540.00 and set a positive rating on the stock in a report on Wednesday, January 24th. Citigroup lowered their target price on Lockheed Martin from $540.00 to $508.00 and set a buy rating on the stock in a report on Wednesday, January 24th. UBS Group lowered their target price on Lockheed Martin from $488.00 to $475.00 and set a neutral rating on the stock in a report on Wednesday, January 24th. Finally, Royal Bank of Canada lowered their target price on Lockheed Martin from $475.00 to $470.00 and set a sector perform rating on the stock in a 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $493.36.

Lockheed Martin Stock Performance

Shares of NYSE LMT opened at $456.05 on Monday. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.03 and a current ratio of 1.21. The firm has a market cap of $109.68 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 4.13 and a beta of 0.48. The business’s 50-day simple moving average is $438.66 and its 200-day simple moving average is $442.12. Lockheed Martin has a 52 week low of $393.77 and a 52 week high of $508.10.

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

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were issued a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Thursday, February 29th. Lockheed Martin’s payout ratio is presently 45.74%.

Insider Transactions at Lockheed Martin

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

Hedge Funds Weigh In On Lockheed Martin

Several hedge funds and other institutional investors have recently modified their holdings of LMT. Moneta Group Investment Advisors LLC lifted its position in shares of Lockheed Martin by 81,305.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,907,328 shares of the aerospace company’s stock worth $927,896,000 after buying an additional 1,904,985 shares during the period. International Assets Investment Management LLC raised its position in Lockheed Martin by 10,526.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock valued at $617,416,000 after purchasing an additional 1,349,409 shares during the last quarter. Franklin Resources Inc. raised its position in Lockheed Martin by 14.9% in the 4th quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after purchasing an additional 336,588 shares during the last quarter. Confluence Investment Management LLC bought a new position in Lockheed Martin in the 1st quarter valued at $151,402,000. Finally, Renaissance Technologies LLC raised its position in Lockheed Martin by 586.8% in the 1st quarter. Renaissance Technologies LLC now owns 369,500 shares of the aerospace company’s stock valued at $163,097,000 after purchasing an additional 315,700 shares during the last quarter. 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.