Lockheed Martin (NYSE:LMT) Price Target Raised to $476.00

Lockheed Martin (NYSE:LMT) had its target price boosted by Wells Fargo & Company from $468.00 to $476.00 in a research report released on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the aerospace company’s stock.

Several other research analysts have also recently issued reports on the company. Royal Bank of Canada cut their price objective on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. Susquehanna cut their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. Morgan Stanley decreased their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Barclays lowered their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Finally, Citigroup reduced their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, six have issued 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, the company presently has an average rating of “Moderate Buy” and an average target price of $554.20.

Lockheed Martin Stock Up 2.8 %

Shares of NYSE:LMT opened at $474.31 on Friday. Lockheed Martin has a fifty-two week low of $419.70 and a fifty-two week high of $618.95. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The firm’s 50-day simple moving average is $462.89 and its 200-day simple moving average is $521.36. The company has a market cap of $111.65 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating 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%. As a group, equities research analysts predict that Lockheed Martin will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

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

Insider Activity

In related news, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction dated 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 approximately $1,008,265.58. The trade was a 23.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock worth $3,155,916 over the last three months. 0.17% of the stock is currently owned by corporate insiders.

Institutional Trading of Lockheed Martin

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in shares of Lockheed Martin by 17.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after purchasing an additional 1,132,461 shares during the period. Geode Capital Management LLC grew its holdings in Lockheed Martin by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock valued at $2,374,557,000 after buying an additional 59,597 shares during the period. FMR LLC increased its stake in shares of Lockheed Martin by 6.6% during the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after acquiring an additional 209,591 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Lockheed Martin by 8.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after acquiring an additional 240,306 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Lockheed Martin by 6.3% in the fourth quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company’s stock worth $1,098,667,000 after acquiring an additional 134,662 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

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.