Lockheed Martin (NYSE:LMT) Stock Price Up 4.2% After Analyst Upgrade

Lockheed Martin Co. (NYSE:LMT - Get Free Report) traded up 4.2% on Monday after Wells Fargo & Company raised their price target on the stock from $468.00 to $476.00. Wells Fargo & Company currently has an equal weight rating on the stock. Lockheed Martin traded as high as $493.91 and last traded at $493.39. 700,499 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 1,112,950 shares. The stock had previously closed at $473.65.

Several other equities analysts have also recently commented on the stock. Truist Financial started coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They issued a "buy" rating and a $579.00 target price for the company. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating and lowered their price objective for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Susquehanna reduced their target price on Lockheed Martin from $590.00 to $550.00 and set a "positive" rating on the stock in a report on Wednesday, January 29th. Morgan Stanley lowered their price target on Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating for the company in a report on Wednesday, January 29th. Finally, Royal Bank of Canada reduced their price objective on Lockheed Martin from $570.00 to $550.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin currently has a consensus rating of "Moderate Buy" and an average target price of $554.20.

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Insider Buying and Selling

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the transaction, the insider now directly owns 2,000 shares of the company's stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the sale, the vice president now directly owns 2,278 shares of the company's stock, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock worth $3,155,916 in the last ninety days. Company insiders own 0.17% of the company's stock.

Institutional Inflows and Outflows

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

Lockheed Martin Stock Performance

The stock has a market capitalization of $110.49 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company has a 50 day simple moving average of $462.79 and a 200-day simple moving average of $520.80. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, equities research analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.81%. Lockheed Martin's dividend payout ratio is presently 59.30%.

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.