Lockheed Martin (NYSE:LMT) Rating Increased to Buy at Melius

Lockheed Martin (NYSE:LMT) was upgraded by equities research analysts at Melius from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Marketbeat.com reports. The brokerage currently has a $704.00 target price on the aerospace company’s stock. Melius’ price objective would suggest a potential upside of 22.48% from the stock’s previous close.

A number of other research firms have also recently commented on LMT. Wells Fargo & Company increased their price target on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Barclays increased their price target on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Bank of America reiterated a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. Royal Bank of Canada raised Lockheed Martin from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $500.00 to $600.00 in a report on Monday, August 5th. Finally, Susquehanna increased their price objective on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $553.43.

Lockheed Martin Trading Up 1.3 %

Shares of NYSE LMT opened at $574.78 on Tuesday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The stock has a market capitalization of $137.91 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 4.56 and a beta of 0.46. Lockheed Martin has a 1-year low of $393.77 and a 1-year high of $578.73. The business has a fifty day moving average price of $520.31 and a 200 day moving average price of $476.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same period in the prior year, the business posted $6.73 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Equities research analysts expect that Lockheed Martin will post 26.65 EPS for the current fiscal year.

Insider Activity at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is owned by company insiders.

Institutional Trading of Lockheed Martin

Institutional investors and hedge funds have recently made changes to their positions in the business. First Pacific Financial purchased a new stake in shares of Lockheed Martin in the first quarter valued at approximately $25,000. Altshuler Shaham Ltd purchased a new stake in shares of Lockheed Martin during the fourth quarter worth approximately $26,000. Sachetta LLC increased its position in shares of Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares in the last quarter. Wiser Advisor Group LLC increased its position in shares of Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Lockheed Martin during the first quarter worth approximately $30,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

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.