UBS Group Raises Lockheed Martin (NYSE:LMT) Price Target to $499.00

Lockheed Martin (NYSE:LMT) had its price target increased by equities researchers at UBS Group from $482.00 to $499.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the aerospace company’s stock. UBS Group’s target price would suggest a potential upside of 8.77% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Lockheed Martin from $438.00 to $472.00 in a research report on Monday, January 22nd. JPMorgan Chase & Co. upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $475.00 to $518.00 in a research note on Monday, April 15th. Morgan Stanley reduced their price objective on shares of Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. Finally, Susquehanna dropped their price objective on shares of Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $478.20.

Lockheed Martin Stock Performance

NYSE LMT traded down $1.33 on Wednesday, hitting $458.75. 403,869 shares of the stock were exchanged, compared to its average volume of 1,166,806. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.21 and a quick ratio of 1.03. The business’s fifty day moving average is $441.34 and its 200 day moving average is $444.04. Lockheed Martin has a 52 week low of $393.77 and a 52 week high of $480.92. The company has a market capitalization of $110.32 billion, a PE ratio of 16.66, a P/E/G ratio of 4.21 and a beta of 0.48.

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 the consensus estimate of $5.80 by $0.53. The firm had revenue of $17.20 billion for the quarter, compared to analyst estimates of $16.04 billion. Lockheed Martin had a net margin of 10.24% and a return on equity of 79.91%. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.43 earnings per share. Research analysts anticipate that Lockheed Martin will post 26.13 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO John Frank A. St sold 6,648 shares of the business’s 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 filing with the SEC, which can be accessed 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 stock was sold at an average price of $431.19, for a total value of $2,675,102.76. Following the sale, the insider now directly owns 12,604 shares in the company, valued at approximately $5,434,718.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $425.35, for a total value of $2,827,726.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,874 shares of company stock valued at $7,249,946. 0.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Lockheed Martin

Several hedge funds and other institutional investors have recently modified their holdings of LMT. International Assets Investment Management LLC grew its holdings in shares of Lockheed Martin by 10,526.6% during the fourth quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock worth $617,416,000 after purchasing an additional 1,349,409 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Lockheed Martin by 14.9% during the fourth 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 period. Confluence Investment Management LLC purchased a new stake in shares of Lockheed Martin during the first quarter valued at approximately $151,402,000. Vanguard Group Inc. boosted its stake in shares of Lockheed Martin by 1.3% during the third quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock valued at $9,120,920,000 after purchasing an additional 279,162 shares during the period. Finally, Corient Private Wealth LLC boosted its stake in shares of Lockheed Martin by 91.8% during the fourth quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock valued at $260,169,000 after purchasing an additional 274,680 shares during the period. 74.19% of the stock is currently owned by institutional investors.

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.