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

Several other brokerages have also recently commented on LMT. Argus reaffirmed a buy rating and set a $290.00 price objective on shares of Lockheed Martin Corp. in a research note on Friday, August 5th. Drexel Hamilton reaffirmed a buy rating and set a $284.00 price objective on shares of Lockheed Martin Corp. in a research note on Wednesday, July 20th. Jefferies Group reaffirmed a hold rating on shares of Lockheed Martin Corp. in a research note on Wednesday, August 3rd. Zacks Investment Research raised shares of Lockheed Martin Corp. from a hold rating to a buy rating and set a $288.00 price objective for the company in a research note on Monday, July 18th. Finally, Credit Suisse Group AG reaffirmed a neutral rating and set a $255.00 price objective (up previously from $225.00) on shares of Lockheed Martin Corp. in a research note on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $257.32.

Lockheed Martin Corp. (NYSE:LMT) opened at 240.88 on Monday. Lockheed Martin Corp. has a 12 month low of $199.01 and a 12 month high of $266.93. The firm has a market capitalization of $72.96 billion, a PE ratio of 20.06 and a beta of 0.58. The firm has a 50-day moving average of $249.65 and a 200 day moving average of $239.62.

Lockheed Martin Corp. (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 19th. The company reported $3.32 EPS for the quarter, beating the consensus estimate of $2.93 by $0.39. The company earned $12.90 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned $2.94 earnings per share. Equities research analysts forecast that Lockheed Martin Corp. will post $11.74 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Thursday, September 1st will be paid a dividend of $1.65 per share. This represents a $6.60 annualized dividend and a yield of 2.74%. The ex-dividend date is Tuesday, August 30th. Lockheed Martin Corp.’s dividend payout ratio is currently 56.51%.

In other Lockheed Martin Corp. news, insider Sondra L. Barbour sold 66,460 shares of the company’s 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 transaction, the insider now owns 31,200 shares in the company, valued at approximately $7,979,088. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Orlando D. Carvalho sold 12,700 shares of the company’s 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 transaction, the insider now owns 29,120 shares in the company, valued at approximately $7,419,193.60. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Heritage Investors Management Corp boosted its position in shares of Lockheed Martin Corp. by 2.2% in the first quarter. Heritage Investors Management Corp now owns 31,723 shares of the company’s stock valued at $7,027,000 after buying an additional 679 shares during the period. North American Management Corp boosted its position in shares of Lockheed Martin Corp. by 53.4% in the first quarter. North American Management Corp now owns 23,812 shares of the company’s stock valued at $5,274,000 after buying an additional 8,292 shares during the period. CHURCHILL MANAGEMENT Corp boosted its position in shares of Lockheed Martin Corp. by 5.8% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 48,379 shares of the company’s stock valued at $10,716,000 after buying an additional 2,651 shares during the period. Osborn Rohs Williams & Donohoe Ltd boosted its position in shares of Lockheed Martin Corp. by 1.4% in the first quarter. Osborn Rohs Williams & Donohoe Ltd now owns 1,825 shares of the company’s stock valued at $404,000 after buying an additional 25 shares during the period. Finally, Sit Investment Associates Inc. boosted its position in shares of Lockheed Martin Corp. by 16.9% in the first quarter. Sit Investment Associates Inc. now owns 183,540 shares of the company’s stock valued at $40,654,000 after buying an additional 26,550 shares during the period. Institutional investors and hedge funds own 81.12% 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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