Wells Fargo & Co. upgraded shares of Lockheed Martin Corp. (NYSE:LMT) from a market perform rating to an outperform rating in a report released on Monday morning. They currently have $277.50 target price on the stock, up from their previous target price of $199.01.

Other research analysts have also issued reports about the stock. Argus restated a buy rating and issued a $290.00 target price on shares of Lockheed Martin Corp. in a report on Friday, August 5th. Zacks Investment Research upgraded shares of Lockheed Martin Corp. from a hold rating to a buy rating and set a $279.00 price objective on the stock in a report on Tuesday, July 5th. Drexel Hamilton reiterated a buy rating and set a $284.00 price objective on shares of Lockheed Martin Corp. in a report on Wednesday, July 20th. Citigroup Inc. reiterated a buy rating and set a $284.00 price objective (up from $239.00) on shares of Lockheed Martin Corp. in a report on Tuesday, September 6th. Finally, Berenberg Bank lowered shares of Lockheed Martin Corp. from a buy rating to a hold rating and increased their price objective for the stock from $250.00 to $260.00 in a report on Tuesday, May 31st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Hold and a consensus target price of $257.32.

Lockheed Martin Corp. (NYSE:LMT) opened at 246.62 on Monday. The company has a 50 day moving average of $248.57 and a 200-day moving average of $239.85. Lockheed Martin Corp. has a one year low of $199.01 and a one year high of $266.93. The firm has a market cap of $74.70 billion, a PE ratio of 20.54 and a beta of 0.58.

Lockheed Martin Corp. (NYSE:LMT) last released its earnings results on Tuesday, July 19th. The company reported $3.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.93 by $0.39. The company had revenue of $12.90 billion for the quarter, compared to analyst estimates of $12.56 billion. Lockheed Martin Corp. had a net margin of 7.37% and a return on equity of 119.66%. During the same period in the prior year, the firm earned $2.94 EPS. On average, equities research analysts predict that Lockheed Martin Corp. will post $11.75 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 1st will be paid a dividend of $1.82 per share. This is a boost from Lockheed Martin Corp.’s previous quarterly dividend of $1.65. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.95%. Lockheed Martin Corp.’s payout ratio is currently 56.51%.

In related news, insider Sondra L. Barbour sold 66,460 shares of Lockheed Martin Corp. stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $255.74, for a total transaction of $16,996,480.40. Following the sale, the insider now directly owns 31,200 shares in the company, valued at $7,979,088. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Orlando D. Carvalho sold 12,700 shares of Lockheed Martin Corp. stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $254.78, for a total transaction of $3,235,706.00. Following the sale, the insider now owns 29,120 shares in the company, valued at $7,419,193.60. The disclosure for this sale can be found here. Corporate insiders own 0.42% of the company’s stock.

Large investors have recently modified their holdings of the stock. Keeley Asset Management Corp boosted its stake in shares of Lockheed Martin Corp. by 0.3% in the second quarter. Keeley Asset Management Corp now owns 966 shares of the company’s stock worth $240,000 after buying an additional 3 shares in the last quarter. Paragon Capital Management Ltd raised its position in Lockheed Martin Corp. by 0.4% in the second quarter. Paragon Capital Management Ltd now owns 1,053 shares of the company’s stock worth $261,000 after buying an additional 4 shares during the last quarter. Glassman Wealth Services raised its position in Lockheed Martin Corp. by 0.5% in the second quarter. Glassman Wealth Services now owns 838 shares of the company’s stock worth $208,000 after buying an additional 4 shares during the last quarter. Burns J W & Co. Inc. NY raised its position in Lockheed Martin Corp. by 0.4% in the second quarter. Burns J W & Co. Inc. NY now owns 1,388 shares of the company’s stock worth $344,000 after buying an additional 5 shares during the last quarter. Finally, MCF Advisors LLC raised its position in Lockheed Martin Corp. by 0.6% in the first quarter. MCF Advisors LLC now owns 1,130 shares of the company’s stock worth $250,000 after buying an additional 7 shares during the last quarter. Institutional investors and hedge funds own 81.20% of the company’s stock.

Lockheed Martin Corp. Company Profile

Lockheed Martin Corporation is a global security and aerospace company. The Company is engaged in the research, design, integration and sustainment of advanced technology systems, products and services. It operates in five segments: Aeronautics; Information Systems & Global Solutions (IS&GS); Missiles and Fire Control (MFC); Mission Systems and Training (MST), and Space Systems.

5 Day Chart for NYSE:LMT

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