Lockheed Martin (NYSE:LMT) Trading Up 2.2% Following Analyst Upgrade

Shares of Lockheed Martin Co. (NYSE:LMT) shot up 2.2% during mid-day trading on Friday after Wells Fargo & Company raised their price target on the stock from $468.00 to $476.00. Wells Fargo & Company currently has an equal weight rating on the stock. Lockheed Martin traded as high as $469.73 and last traded at $471.77. 393,810 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 1,106,790 shares. The stock had previously closed at $461.50.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. dropped their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Morgan Stanley reduced their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price target for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. Citigroup dropped their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Finally, UBS Group lowered their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average price target of $554.20.

Insider Buying and Selling at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the transaction, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at $884,840. The trade was a 61.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,133 shares of company stock worth $3,155,916. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds have recently made changes to their positions in LMT. Itau Unibanco Holding S.A. acquired a new stake in Lockheed Martin in the 3rd quarter valued at about $26,000. Millstone Evans Group LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at about $32,000. Mizuho Securities Co. Ltd. acquired a new stake in Lockheed Martin in the 4th quarter valued at about $34,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at about $35,000. Finally, Capital Performance Advisors LLP acquired a new stake in Lockheed Martin in the 3rd quarter valued at about $40,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 2.8 %

The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The company has a market cap of $111.65 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The business has a 50-day simple moving average of $462.89 and a 200-day simple moving average of $521.83.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. On average, equities analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

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.