Lockheed Martin (NYSE:LMT) Price Target Raised to $499.00 at UBS Group

Lockheed Martin (NYSE:LMT) had its price objective hoisted by investment analysts at UBS Group from $482.00 to $499.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the aerospace company’s stock. UBS Group’s price target would suggest a potential upside of 7.27% from the stock’s previous close.

LMT has been the subject of several other reports. Morgan Stanley reduced their price objective on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. JPMorgan Chase & Co. raised Lockheed Martin from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $475.00 to $518.00 in a report on Monday, April 15th. Citigroup reduced their price objective on Lockheed Martin from $540.00 to $508.00 and set a “buy” rating for the company in a report on Wednesday, January 24th. Susquehanna reduced their price objective on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a report on Wednesday, January 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Lockheed Martin from $438.00 to $472.00 in a report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin presently has an average rating of “Hold” and a consensus price target of $485.40.

Lockheed Martin Stock Up 1.3 %

Lockheed Martin stock opened at $465.19 on Wednesday. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.03. Lockheed Martin has a 1-year low of $393.77 and a 1-year high of $479.50. The company has a market cap of $111.87 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 4.21 and a beta of 0.48. The stock’s 50 day moving average price is $443.00 and its 200 day moving average price is $444.29.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, beating analysts’ consensus estimates of $5.80 by $0.53. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The firm had revenue of $17.20 billion for the quarter, compared to the consensus estimate of $16.04 billion. During the same period in the previous year, the business earned $6.43 earnings per share. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, sell-side analysts predict that Lockheed Martin will post 26.04 EPS for the current fiscal year.

Insider Transactions at Lockheed Martin

In other news, insider Gregory M. Ulmer sold 6,204 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total value of $2,675,102.76. Following the completion of the transaction, the insider now directly owns 12,604 shares of the company’s stock, valued at $5,434,718.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Gregory M. Ulmer sold 6,204 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total value of $2,675,102.76. Following the completion of the transaction, the insider now directly owns 12,604 shares in the company, valued at $5,434,718.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Frank A. St sold 6,648 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $425.35, for a total value of $2,827,726.80. The disclosure for this sale can be found here. Insiders sold a total of 16,874 shares of company stock valued at $7,249,946 over the last three months. 0.17% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors have recently added to or reduced their stakes in the business. First Pacific Financial acquired a new position in Lockheed Martin in the first quarter valued at $25,000. Bank Julius Baer & Co. Ltd Zurich grew its position in Lockheed Martin by 73.0% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 64 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 27 shares during the period. Altshuler Shaham Ltd purchased a new stake in Lockheed Martin during the fourth quarter valued at about $26,000. Activest Wealth Management grew its position in Lockheed Martin by 1,200.0% during the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 60 shares during the period. Finally, Milestone Investment Advisors LLC purchased a new stake in Lockheed Martin during the third quarter valued at about $33,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

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.