Lockheed Martin (NYSE:LMT) Given New $476.00 Price Target at Wells Fargo & Company

Lockheed Martin (NYSE:LMT - Free Report) had its target price hoisted by Wells Fargo & Company from $468.00 to $476.00 in a research report report published on Friday morning, MarketBeat reports. Wells Fargo & Company currently has an equal weight rating on the aerospace company's stock.

A number of other equities analysts have also weighed in on the company. Truist Financial started coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a "buy" rating and a $579.00 target price for the company. JPMorgan Chase & Co. dropped their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. StockNews.com lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Morgan Stanley dropped their price target on Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 29th. Finally, Barclays reduced their price objective on Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating for the company in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $554.20.

Lockheed Martin Stock Up 1.0 %

LMT stock traded up $4.77 on Friday, reaching $478.42. 2,282,473 shares of the company traded hands, compared to its average volume of 1,118,906. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The firm has a fifty day simple moving average of $462.89 and a 200-day simple moving average of $521.36. Lockheed Martin has a one year low of $419.70 and a one year high of $618.95. The company has a market cap of $112.61 billion, a P/E ratio of 21.49, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) 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%. Research analysts anticipate that Lockheed Martin 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 of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.76%. Lockheed Martin's dividend payout ratio is presently 59.30%.

Insider Transactions at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the transaction, the insider now owns 2,000 shares of the company's stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the firm's stock in a transaction 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 transaction, the vice president now directly 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 a total of 7,133 shares of company stock valued at $3,155,916 over the last 90 days. Company insiders own 0.17% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. purchased a new position in Lockheed Martin during the 3rd quarter valued at approximately $26,000. Millstone Evans Group LLC bought a new position in shares of Lockheed Martin during the 4th quarter valued at approximately $32,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Lockheed Martin in the fourth quarter valued at $34,000. Heck Capital Advisors LLC bought a new stake in Lockheed Martin in the fourth quarter worth $35,000. Finally, Capital Performance Advisors LLP purchased a new stake in Lockheed Martin during the third quarter valued at $40,000. Institutional investors own 74.19% of the company's stock.

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.