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

Lockheed Martin (NYSE:LMT) had its price target boosted by research analysts at Wells Fargo & Company from $460.00 to $480.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 4.24% from the company’s previous close.

LMT has been the subject of several other reports. Morgan Stanley decreased their price target on shares of Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. UBS Group raised their price target on Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a report on Wednesday. The Goldman Sachs Group decreased their price target on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research report on Tuesday. Royal Bank of Canada decreased their target price on 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. Finally, JPMorgan Chase & Co. raised Lockheed Martin from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $475.00 to $518.00 in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $485.40.

Lockheed Martin Stock Performance

LMT stock traded up $1.33 on Thursday, reaching $460.47. 179,515 shares of the company were exchanged, compared to its average volume of 1,161,810. Lockheed Martin has a 12 month low of $393.77 and a 12 month high of $479.50. The stock’s fifty day moving average price is $442.16 and its 200 day moving average price is $444.14. The firm has a market capitalization of $110.74 billion, a PE ratio of 16.92, a PEG ratio of 4.21 and a beta of 0.48. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.03.

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

Insider Activity at Lockheed Martin

In other Lockheed Martin news, 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 value of $1,747,116.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Gregory M. Ulmer sold 6,204 shares of the business’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 completion of the sale, the insider now owns 12,604 shares of the company’s stock, valued at approximately $5,434,718.76. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,874 shares of company stock worth $7,249,946. 0.17% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LMT. Herold Advisors Inc. grew its position in Lockheed Martin by 8.6% during the 3rd quarter. Herold Advisors Inc. now owns 3,448 shares of the aerospace company’s stock worth $1,410,000 after acquiring an additional 274 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Lockheed Martin by 3.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,088 shares of the aerospace company’s stock valued at $8,624,000 after acquiring an additional 770 shares in the last quarter. Alethea Capital Management LLC bought a new position in Lockheed Martin during the third quarter valued at $415,000. New Mexico Educational Retirement Board boosted its holdings in shares of Lockheed Martin by 6.4% in the third quarter. New Mexico Educational Retirement Board now owns 11,697 shares of the aerospace company’s stock worth $4,784,000 after acquiring an additional 700 shares during the period. Finally, Gilbert & Cook Inc. raised its position in shares of Lockheed Martin by 22.8% in the third quarter. Gilbert & Cook Inc. now owns 1,275 shares of the aerospace company’s stock worth $521,000 after buying an additional 237 shares in the last quarter. 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.