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

Lockheed Martin (NYSE:LMT - Free Report) had its price target boosted by Wells Fargo & Company from $460.00 to $480.00 in a research report report published on Thursday, Benzinga reports. They currently have an equal weight rating on the aerospace company's stock.

Other analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Lockheed Martin from $467.00 to $487.00 and gave the company a hold rating in a research note on Thursday. UBS Group increased their price target on shares of Lockheed Martin from $482.00 to $499.00 and gave the company a neutral rating in a research note on Wednesday. Royal Bank of Canada dropped their price target on shares of Lockheed Martin from $475.00 to $470.00 and set a sector perform rating for the company in a research note on Wednesday, January 24th. Citigroup upped their price objective on shares of Lockheed Martin from $508.00 to $525.00 and gave the stock a buy rating in a report on Wednesday. Finally, JPMorgan Chase & Co. upgraded shares of Lockheed Martin from a neutral rating to an overweight rating and upped their price objective for the stock from $475.00 to $518.00 in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $485.40.

Lockheed Martin Price Performance

NYSE LMT traded up $6.05 during trading hours on Thursday, hitting $465.19. 927,138 shares of the company's stock traded hands, compared to its average volume of 1,171,864. Lockheed Martin has a 52-week low of $393.77 and a 52-week high of $479.50. The company has a market capitalization of $111.87 billion, a PE ratio of 17.02, a PEG ratio of 4.21 and a beta of 0.48. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.03. The firm's 50-day moving average is $443.00 and its 200-day moving average is $444.29.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, beating 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 company had revenue of $17.20 billion during the quarter, compared to analysts' expectations of $16.04 billion. During the same quarter in the prior year, the company earned $6.43 EPS. Lockheed Martin's revenue was up 13.7% compared to the same quarter last year. Equities analysts forecast that Lockheed Martin will post 26.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gregory M. Ulmer sold 6,204 shares of the 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 completion of the sale, the insider now directly owns 12,604 shares in the company, valued at $5,434,718.76. The disclosure for this sale can be found here. Insiders have sold a total of 16,874 shares of company stock worth $7,249,946 in the last ninety days. 0.17% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lockheed Martin

A number of large investors have recently modified their holdings of LMT. First Pacific Financial purchased a new position in shares of Lockheed Martin in the 1st quarter valued at $25,000. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Lockheed Martin by 73.0% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 64 shares of the aerospace company's stock valued at $26,000 after buying an additional 27 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in shares of Lockheed Martin in the 4th quarter valued at $26,000. Activest Wealth Management grew its position in shares of Lockheed Martin by 1,200.0% in the 4th quarter. Activest Wealth Management now owns 65 shares of the aerospace company's stock valued at $30,000 after buying an additional 60 shares during the last quarter. Finally, Milestone Investment Advisors LLC purchased a new position in shares of Lockheed Martin in the 3rd quarter valued at $33,000. 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.