Lockheed Martin (NYSE:LMT) Price Target Raised to $630.00

Lockheed Martin (NYSE:LMT) had its target price increased by investment analysts at JPMorgan Chase & Co. from $560.00 to $630.00 in a report released on Monday, Benzinga reports. The firm presently has an “overweight” rating on the aerospace company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 3.96% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft boosted their target price on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. UBS Group upped their target price on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research note on Tuesday, September 3rd. Morgan Stanley increased their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Finally, Barclays lifted their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $587.15.

Lockheed Martin Trading Up 0.3 %

NYSE LMT traded up $1.81 during trading on Monday, hitting $605.98. The stock had a trading volume of 72,695 shares, compared to its average volume of 1,051,310. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The company has a market capitalization of $145.40 billion, a PE ratio of 22.17, a PEG ratio of 4.84 and a beta of 0.47. The firm has a 50 day moving average price of $572.03 and a 200 day moving average price of $505.57. Lockheed Martin has a twelve month low of $413.92 and a twelve month high of $611.59.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. During the same period in the prior year, the firm earned $6.73 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities research analysts forecast that Lockheed Martin will post 26.68 earnings per share for the current year.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.

Institutional Trading of Lockheed Martin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LMT. Ameriprise Financial Inc. grew its stake in shares of Lockheed Martin by 1.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after buying an additional 31,545 shares during the period. Legal & General Group Plc grew its position in Lockheed Martin by 14.9% during the second quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after acquiring an additional 180,074 shares during the period. Dimensional Fund Advisors LP increased its stake in Lockheed Martin by 11.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock worth $546,144,000 after acquiring an additional 119,052 shares during the last quarter. Wulff Hansen & CO. raised its holdings in shares of Lockheed Martin by 56,626.7% in the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after purchasing an additional 1,019,281 shares during the period. Finally, Capital Research Global Investors lifted its stake in shares of Lockheed Martin by 29.7% in the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after purchasing an additional 218,506 shares in the last quarter. Hedge funds and other institutional investors 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.