Lockheed Martin (NYSE:LMT) Stock Price Up 4.2% Following Analyst Upgrade

Lockheed Martin Co. (NYSE:LMT)’s share price rose 4.2% during trading on Monday 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 $493.91 and last traded at $493.39. Approximately 700,499 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 1,112,950 shares. The stock had previously closed at $473.65.

LMT has been the topic of a number of other research reports. Susquehanna reduced their price target on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report 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 reduced their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Truist Financial began coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. Finally, StockNews.com downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. One 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 stock. According to MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus price target of $554.20.

Insiders Place Their Bets

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the transaction, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. This represents a 61.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value 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 $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock worth $3,155,916 over the last three months. Insiders own 0.17% of the company’s stock.

Institutional Trading of Lockheed Martin

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Platform Technology Partners increased its holdings in Lockheed Martin by 0.5% in the third quarter. Platform Technology Partners now owns 4,122 shares of the aerospace company’s stock valued at $2,409,000 after purchasing an additional 19 shares during the period. Assetmark Inc. increased its holdings in Lockheed Martin by 1.3% in the third quarter. Assetmark Inc. now owns 1,470 shares of the aerospace company’s stock valued at $859,000 after purchasing an additional 19 shares during the period. Vinva Investment Management Ltd increased its holdings in Lockheed Martin by 3.0% in the third quarter. Vinva Investment Management Ltd now owns 656 shares of the aerospace company’s stock valued at $382,000 after purchasing an additional 19 shares during the period. Widmann Financial Services Inc. increased its holdings in Lockheed Martin by 2.1% in the third quarter. Widmann Financial Services Inc. now owns 968 shares of the aerospace company’s stock valued at $566,000 after purchasing an additional 20 shares during the period. Finally, CFS Investment Advisory Services LLC increased its holdings in Lockheed Martin by 2.0% in the fourth quarter. CFS Investment Advisory Services LLC now owns 1,091 shares of the aerospace company’s stock valued at $530,000 after purchasing an additional 21 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Up 1.0 %

The firm has a market capitalization of $112.61 billion, a price-to-earnings ratio of 21.49, a P/E/G ratio of 2.07 and a beta of 0.43. The stock has a fifty day moving average of $462.79 and a two-hundred day moving average of $520.80. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95.

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

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.76%. Lockheed Martin’s payout ratio is currently 59.30%.

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.