Lockheed Martin (NYSE:LMT) Price Target Increased to $480.00 by Analysts at Wells Fargo & Company

Lockheed Martin (NYSE:LMT) had its price objective lifted by Wells Fargo & Company from $460.00 to $480.00 in a research note released on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the aerospace company’s stock.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada lowered 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. Deutsche Bank Aktiengesellschaft upped their target price on shares of Lockheed Martin from $467.00 to $487.00 and gave the company a hold rating in a report on Thursday. JPMorgan Chase & Co. upgraded shares of Lockheed Martin from a neutral rating to an overweight rating and upped their price target for the company from $475.00 to $518.00 in a research report on Monday, April 15th. Citigroup upped their price target on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a buy rating in a research report on Wednesday. Finally, UBS Group upped 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, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin has an average rating of Hold and a consensus target price of $485.40.

Lockheed Martin Stock Down 0.7 %

LMT traded down $3.27 during trading hours on Thursday, hitting $461.51. 374,961 shares of the company’s stock were exchanged, compared to its average volume of 1,161,911. Lockheed Martin has a 12-month low of $393.77 and a 12-month high of $479.50. The firm has a 50 day moving average of $443.00 and a 200 day moving average of $444.29. The firm has a market cap of $110.73 billion, a P/E ratio of 17.02, a price-to-earnings-growth ratio of 4.20 and a beta of 0.48. 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 announced 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. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The firm had revenue of $17.20 billion for the quarter, compared to the consensus estimate of $16.04 billion. During the same period in the prior year, the firm earned $6.43 EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. Analysts predict that Lockheed Martin will post 26.04 EPS for the current fiscal year.

Insider Activity at Lockheed Martin

In other 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 owns 12,604 shares in the company, valued at $5,434,718.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO John Frank A. St sold 6,648 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gregory M. Ulmer sold 6,204 shares of Lockheed Martin stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the completion of the transaction, the insider now directly 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. Over the last quarter, insiders have sold 16,874 shares of company stock worth $7,249,946. Company insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds have recently added to or reduced their stakes in LMT. First Pacific Financial acquired a new position in Lockheed Martin in the first quarter worth $25,000. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Lockheed Martin by 73.0% in 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 acquired a new position in shares of Lockheed Martin during the fourth quarter valued at $26,000. Activest Wealth Management boosted its holdings in shares of Lockheed Martin by 1,200.0% during the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 60 shares during the period. Finally, Milestone Investment Advisors LLC acquired a new position in shares of Lockheed Martin during the third quarter valued at $33,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

About Lockheed Martin

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.