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

Lockheed Martin (NYSE:LMT) had its target price upped by equities 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 presently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 4.24% from the company’s previous close.

A number of other equities research analysts have also weighed in on LMT. 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. Morgan Stanley lowered their price objective 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. The Goldman Sachs Group reduced 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. Citigroup raised their price objective on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, UBS Group lifted their price objective on shares of Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $485.40.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock traded up $1.33 during trading on Thursday, hitting $460.47. 179,515 shares of the company’s stock traded hands, compared to its average volume of 1,161,810. The business has a 50-day simple moving average of $442.16 and a 200-day simple moving average of $444.14. 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 has a 1 year low of $393.77 and a 1 year high of $479.50. The stock has a market capitalization of $110.74 billion, a P/E ratio of 16.92, a PEG ratio of 4.21 and a beta of 0.48.

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

Insider Buying and Selling

In related news, insider Gregory M. Ulmer sold 6,204 shares of Lockheed Martin stock in a transaction that occurred on 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 sale, the insider now directly owns 12,604 shares of the company’s stock, valued at approximately $5,434,718.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Gregory M. Ulmer sold 6,204 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were 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 in the company, valued at approximately $5,434,718.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maryanne Lavan sold 4,022 shares of the business’s 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 three months, insiders have sold 16,874 shares of company stock valued at $7,249,946. 0.17% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position 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 worth $9,120,920,000 after purchasing an additional 279,162 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Lockheed Martin by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,686,937 shares of the aerospace company’s stock valued at $2,302,388,000 after acquiring an additional 97,916 shares during the last quarter. Wellington Management Group LLP raised its holdings in Lockheed Martin by 4.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,158,783 shares of the aerospace company’s stock valued at $1,291,816,000 after buying an additional 121,358 shares during the period. Franklin Resources Inc. increased its stake 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 purchasing an additional 336,588 shares during the period. Finally, Northern Trust Corp increased its stake in Lockheed Martin by 4.0% in the third quarter. Northern Trust Corp now owns 2,388,377 shares of the aerospace company’s stock worth $976,751,000 after purchasing an additional 91,109 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.