Wells Fargo & Company Forecasts Strong Price Appreciation for Lockheed Martin (NYSE:LMT) Stock

Lockheed Martin (NYSE:LMT) had its target price boosted by stock analysts at Wells Fargo & Company from $468.00 to $476.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 2.04% from the company’s previous close.

Several other equities research analysts also recently weighed in on LMT. Barclays reduced their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Susquehanna reduced their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and dropped their target price for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Royal Bank of Canada reduced their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Finally, Morgan Stanley decreased their price target on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $554.20.

Lockheed Martin Trading Up 1.1 %

Shares of NYSE:LMT traded up $5.00 during trading on Friday, reaching $466.50. The company’s stock had a trading volume of 215,322 shares, compared to its average volume of 1,105,987. The firm’s 50 day simple moving average is $463.18 and its two-hundred day simple moving average is $522.42. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. Lockheed Martin has a 12 month low of $419.70 and a 12 month high of $618.95. The stock has a market capitalization of $109.81 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. On average, research analysts predict that Lockheed Martin will post 27.15 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction on 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 owns 2,000 shares in the company, valued at $884,840. This trade represents a 61.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin 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 owns 2,278 shares of the company’s stock, valued at $1,008,265.58. The trade was a 23.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Proficio Capital Partners LLC raised its position in shares of Lockheed Martin by 53,784.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock valued at $600,412,000 after buying an additional 1,233,275 shares during the last quarter. Charles Schwab Investment Management Inc. boosted 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 acquiring an additional 1,132,461 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new position in Lockheed Martin in the 4th quarter worth approximately $526,587,000. Leigh Baldwin & CO. LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter worth $451,985,000. Finally, Van ECK Associates Corp grew its stake in shares of Lockheed Martin by 1,239.6% in the 4th quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock valued at $266,410,000 after buying an additional 507,312 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

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.