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

Lockheed Martin (NYSE:LMT) had its price objective hoisted by UBS Group from $482.00 to $499.00 in a research report report published on Wednesday, Benzinga reports. They currently have a neutral rating on the aerospace company’s stock.

Several other research firms also recently weighed in on LMT. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Lockheed Martin from $438.00 to $472.00 in a research note on Monday, January 22nd. Morgan Stanley decreased their price target on shares of Lockheed Martin from $513.00 to $503.00 and set an equal weight rating for the company in a research note on Wednesday, January 24th. Citigroup decreased their price target on shares of Lockheed Martin from $540.00 to $508.00 and set a buy rating for the company in a research note on Wednesday, January 24th. Susquehanna decreased their price target on shares of Lockheed Martin from $550.00 to $540.00 and set a positive rating for the company in a research note on Wednesday, January 24th. Finally, Royal Bank of Canada decreased 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. 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 issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $485.40.

Lockheed Martin Price Performance

LMT stock opened at $461.28 on Wednesday. The firm has a market cap of $110.68 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 4.25 and a beta of 0.48. The company has a quick ratio of 1.03, a current ratio of 1.30 and a debt-to-equity ratio of 2.89. Lockheed Martin has a 12-month low of $393.77 and a 12-month high of $479.50. The company’s fifty day simple moving average is $443.74 and its 200 day simple moving average is $444.46.

Lockheed Martin (NYSE:LMT) last released its earnings results 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. The business had revenue of $17.20 billion for the quarter, compared to analyst estimates of $16.04 billion. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. Lockheed Martin’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.43 earnings per share. On average, analysts expect that Lockheed Martin will post 26.05 earnings per share for the current year.

Insiders Place Their Bets

In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gregory M. Ulmer sold 6,204 shares of the company’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 completion of the sale, the insider now directly owns 12,604 shares of the company’s stock, valued at $5,434,718.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,874 shares of company stock valued at $7,249,946. Corporate insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Lockheed Martin by 1.3% in the third quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock valued at $9,120,920,000 after acquiring an additional 279,162 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Lockheed Martin by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,686,937 shares of the aerospace company’s stock valued at $2,302,388,000 after acquiring an additional 97,916 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Lockheed Martin by 4.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,158,783 shares of the aerospace company’s stock valued at $1,291,816,000 after buying an additional 121,358 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Lockheed Martin by 14.9% during the 4th 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 in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Lockheed Martin by 4.0% during the 3rd quarter. Northern Trust Corp now owns 2,388,377 shares of the aerospace company’s stock valued at $976,751,000 after buying an additional 91,109 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

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.