Lockheed Martin (NYSE:LMT) Given New $620.00 Price Target at Deutsche Bank Aktiengesellschaft

Lockheed Martin (NYSE:LMT) had its price objective increased by Deutsche Bank Aktiengesellschaft from $600.00 to $620.00 in a research note published on Thursday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the aerospace company’s stock.

LMT has been the topic of a number of other research reports. Melius raised Lockheed Martin from a hold rating to a buy rating and set a $704.00 target price on the stock in a report on Tuesday, September 3rd. Royal Bank of Canada raised Lockheed Martin from a sector perform rating to an outperform rating and upped their price objective for the stock from $500.00 to $600.00 in a report on Monday, August 5th. Susquehanna upped their price objective on Lockheed Martin from $540.00 to $565.00 and gave the stock a positive rating in a report on Wednesday, July 24th. Wells Fargo & Company upped their price objective on Lockheed Martin from $483.00 to $525.00 and gave the stock an equal weight rating in a report on Wednesday, July 24th. Finally, Barclays boosted their target price on Lockheed Martin from $480.00 to $505.00 and gave the stock an equal weight rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Lockheed Martin currently has an average rating of Moderate Buy and an average price target of $554.86.

Lockheed Martin Stock Performance

Shares of LMT opened at $605.82 on Thursday. The stock has a 50-day simple moving average of $564.10 and a 200-day simple moving average of $498.01. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The stock has a market capitalization of $145.36 billion, a PE ratio of 22.17, a PEG ratio of 4.66 and a beta of 0.47. Lockheed Martin has a 1 year low of $393.77 and a 1 year high of $611.49.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.66. The firm had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.73 earnings per share. On average, analysts predict that Lockheed Martin will post 26.65 earnings per share for the current fiscal year.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lockheed Martin

Several hedge funds have recently modified their holdings of LMT. Ameriprise Financial Inc. boosted its stake in shares of Lockheed Martin by 1.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after acquiring an additional 31,545 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Lockheed Martin by 14.9% in the second quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock worth $646,828,000 after purchasing an additional 180,074 shares during the period. Dimensional Fund Advisors LP increased its stake in Lockheed Martin by 11.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock valued at $546,144,000 after acquiring an additional 119,052 shares during the period. Wulff Hansen & CO. increased its stake in Lockheed Martin by 56,626.7% during the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after acquiring an additional 1,019,281 shares during the period. Finally, Capital Research Global Investors increased its stake in Lockheed Martin by 29.7% during the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after acquiring an additional 218,506 shares during the period. 74.19% of the stock is currently 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.