Lockheed Martin (NYSE:LMT) Trading 2.2% Higher Following Analyst Upgrade

Lockheed Martin Co. (NYSE:LMT - Get Free Report)'s share price traded up 2.2% during trading on Friday 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 $469.73 and last traded at $471.77. 393,810 shares were traded during mid-day trading, a decline of 64% from the average session volume of 1,106,790 shares. The stock had previously closed at $461.50.

A number of other equities research analysts have also recently issued reports on LMT. JPMorgan Chase & Co. cut their target price on Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Susquehanna cut their target price on Lockheed Martin from $590.00 to $550.00 and set a "positive" rating on the stock in a research note on Wednesday, January 29th. StockNews.com cut Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Truist Financial began coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They set a "buy" rating and a $579.00 price objective on the stock. Finally, Morgan Stanley cut their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $554.20.

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Insider Buying and Selling

In related news, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now owns 2,278 shares of the company's stock, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $1,421,495.46. Following the completion of the transaction, the insider now directly owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lockheed Martin

Several institutional investors and hedge funds have recently bought and sold shares of the business. Virtue Capital Management LLC grew its stake in shares of Lockheed Martin by 112.8% in the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company's stock valued at $1,315,000 after buying an additional 1,192 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Lockheed Martin by 2.1% in the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company's stock valued at $382,498,000 after buying an additional 13,253 shares in the last quarter. Hilltop Holdings Inc. grew its stake in shares of Lockheed Martin by 79.9% in the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company's stock valued at $7,054,000 after buying an additional 5,361 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its stake in shares of Lockheed Martin by 51.7% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company's stock valued at $4,630,000 after buying an additional 3,247 shares in the last quarter. Finally, Capital Investment Advisors LLC grew its stake in shares of Lockheed Martin by 2.2% in the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company's stock valued at $44,770,000 after buying an additional 2,011 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Trading Up 2.8 %

The firm has a market cap of $111.65 billion, a P/E ratio of 21.31, a PEG ratio of 2.07 and a beta of 0.43. The company has a 50 day moving average of $462.89 and a 200 day moving average of $521.59. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating 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%. Analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be issued a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.78%. Lockheed Martin's dividend payout ratio (DPR) is currently 59.30%.

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.