StockNews.com Upgrades Lockheed Martin (NYSE:LMT) to Buy

Lockheed Martin (NYSE:LMT - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Wednesday.

LMT has been the subject of several other reports. Barclays cut their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating for the company in a research note on Monday, January 6th. Royal Bank of Canada cut Lockheed Martin from an "outperform" rating to a "sector perform" rating and cut their price target for the company from $550.00 to $480.00 in a report on Thursday, March 27th. UBS Group lifted their target price on Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a research note on Wednesday. Bank of America lowered shares of Lockheed Martin from a "buy" rating to a "neutral" rating and cut their price objective for the company from $685.00 to $485.00 in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. dropped their price objective on Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating for the company in a report on Thursday, January 30th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Lockheed Martin has an average rating of "Moderate Buy" and a consensus target price of $544.79.

Lockheed Martin Stock Performance

Shares of NYSE:LMT traded up $11.01 on Wednesday, hitting $477.82. The company's stock had a trading volume of 1,521,067 shares, compared to its average volume of 1,249,996. The company has a market capitalization of $112.08 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. The stock's 50-day moving average is $454.80 and its two-hundred day moving average is $493.33. Lockheed Martin has a 12 month low of $418.88 and a 12 month high of $618.95. 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 released its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating analysts' consensus estimates of $6.34 by $0.94. The business had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. On average, equities research analysts forecast that Lockheed Martin will post 27.15 EPS for the current year.

Insider Transactions at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of the company's 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 transaction, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction of $1,421,495.46. Following the completion of the sale, the insider now owns 2,000 shares of the company's stock, valued at $884,840. This trade represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,133 shares of company stock worth $3,155,916. 0.14% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LMT. GAMMA Investing LLC lifted its position in shares of Lockheed Martin by 41,104.9% during the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock valued at $889,593,000 after acquiring an additional 1,986,600 shares during the period. Proficio Capital Partners LLC lifted its position in Lockheed Martin by 53,784.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company's stock worth $600,412,000 after purchasing an additional 1,233,275 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Lockheed Martin by 17.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company's stock worth $3,630,492,000 after purchasing an additional 1,132,461 shares during the period. Castlekeep Investment Advisors LLC acquired a new stake in Lockheed Martin during the fourth quarter worth about $526,587,000. Finally, Leigh Baldwin & CO. LLC bought a new position in Lockheed Martin in the 4th quarter valued at about $451,985,000. 74.19% of the stock is owned by 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.