Lockheed Martin (NYSE:LMT) Upgraded by JPMorgan Chase & Co. to "Overweight"

Lockheed Martin (NYSE:LMT - Get Free Report) was upgraded by equities researchers at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The brokerage currently has a $518.00 target price on the aerospace company's stock, up from their prior target price of $475.00. JPMorgan Chase & Co.'s target price points to a potential upside of 14.26% from the stock's previous close.

Several other equities analysts also recently weighed in on LMT. Citigroup dropped their price target on Lockheed Martin from $540.00 to $508.00 and set a "buy" rating for the company in a research report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft raised their price target on Lockheed Martin from $438.00 to $472.00 in a research report on Monday, January 22nd. UBS Group dropped their price target on Lockheed Martin from $488.00 to $475.00 and set a "neutral" rating for the company in a research report on Wednesday, January 24th. Morgan Stanley lowered their price objective on Lockheed Martin from $513.00 to $503.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada lowered their price objective on Lockheed Martin from $475.00 to $470.00 and set a "sector perform" rating for the company in a research report on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $493.36.

Lockheed Martin Price Performance

LMT stock traded up $2.94 during midday trading on Monday, hitting $453.34. 2,439,171 shares of the stock were exchanged, compared to its average volume of 1,163,372. The stock's 50-day moving average price is $436.96 and its 200-day moving average price is $441.40. The stock has a market cap of $109.03 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 4.11 and a beta of 0.48. Lockheed Martin has a fifty-two week low of $393.77 and a fifty-two week high of $508.10. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.03 and a current ratio of 1.21.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The aerospace company reported $7.90 earnings per share for the quarter, topping the consensus estimate of $7.26 by $0.64. The company had revenue of $18.87 billion during the quarter, compared to the consensus estimate of $17.96 billion. Lockheed Martin had a return on equity of 79.91% and a net margin of 10.24%. Lockheed Martin's revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business posted $7.79 earnings per share. Research analysts predict that Lockheed Martin will post 26.13 earnings per share for the current year.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the business's stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total transaction of $1,747,116.58. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Lockheed Martin news, insider Gregory M. Ulmer sold 6,204 shares of the business's stock in a transaction dated 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 transaction, the insider now owns 12,604 shares in the company, valued at $5,434,718.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Maryanne Lavan sold 4,022 shares of the business's stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total value of $1,747,116.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,874 shares of company stock valued at $7,249,946. Company insiders own 0.17% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LMT. Moneta Group Investment Advisors LLC lifted its stake in shares of Lockheed Martin by 81,305.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,907,328 shares of the aerospace company's stock worth $927,896,000 after acquiring an additional 1,904,985 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Lockheed Martin by 10,526.6% in the fourth quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company's stock valued at $617,416,000 after buying an additional 1,349,409 shares during the last quarter. Franklin Resources Inc. increased its holdings in Lockheed Martin by 14.9% in the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company's stock valued at $1,173,641,000 after buying an additional 336,588 shares during the last quarter. Confluence Investment Management LLC bought a new stake in Lockheed Martin in the first quarter valued at about $151,402,000. Finally, Renaissance Technologies LLC increased its holdings in Lockheed Martin by 586.8% in the first quarter. Renaissance Technologies LLC now owns 369,500 shares of the aerospace company's stock valued at $163,097,000 after buying an additional 315,700 shares during the last quarter. 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.