Shares of Lockheed Martin Corporation (NYSE:LMT) are trading up $5.03 or 2.36% in the pre-market this morning after the the stock was upgraded by RBC Capital from ‘Sector Perform’ to ‘Outperform’. RBC also raised their target price for the stock to $250.00 from $220.00 based on export demand and the support that the company’s F-35 has received from the U.S. Department of Defense.
Another possible reason behind this morning’s Lockheed Martin Corporation (NYSE:LMT) share price increase may have to do with the fact that North Korean has claimed to have detonated a hydrogen bomb this morning. Whether or not the market is taking this as fact or yet another one of North Korea’s embellishments is unknown at this time. The stock increased 2.36% or $5.03 on January 6, hitting $218.24. LMT has risen 14.41% since June 2, 2015 and is uptrending. It has outperformed the S&P500 by 19.10%.
From a total of 9 analysts covering Lockheed Martin Corporation (NYSE:LMT) stock, 5 rate it a “Buy”, 1 a “Sell”, and 3 a “Hold”. This means that 56% of the ratings are positive. The highest target price is $237 while the lowest target price is $204. The mean of all analyst targets is $226.44 which is 3.76% above today’s ($218.24) stock price. Lockheed Martin Corporation was the topic of 17 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Goldman Sachs downgraded shares on January 4 to a “Buy” rating. Zacks upgraded shares to a”Buy” rating and a $229 target share price in their report from a September 3. Credit Suisse reinitiated LMT stock in a recent report from November 18 with a “Neutral” rating. Citigroup maintained the rating on August 19. Citigroup has a “Buy” rating and a $232 price target on shares. Finally, Drexel maintained the stock with a “Buy” rating in a report they issued on an October 21.
The institutional sentiment increased to 1.02 in Q2 2015. It’s up 0.02, from 1 in 2015Q2. The ratio is positive, as 55 funds sold all their Lockheed Martin Corporation shares they owned while 369 reduced their positions. 85 funds bought stakes while 346 increased their total positions. Institutions now own 237.99 million shares which is 7.52% less than the previous share count of 257.34 million in 2015Q2.
Oakmont Corp holds 33.55% of its total portfolio in Lockheed Martin Corporation, equating to 1.05 million shares. Ruffer Llp owns 1.04 million shares representing 9.22% of their total US portfolio. Moreover, Artemis Investment Management Llp has 7.35% of their total portfolio invested in the company, equating to 1.20 million shares. The California-based Cypress Funds Llc has a total of 5.88% of their portfolio invested in the stock. Keating Investment Counselors Inc, a Florida-based fund reported 50,390 shares owned.
Since April 27, 2015, the stock had 0 insider buys, and 3 insider sales for a total of $9.96 million in net activity. King Gwendolyn S sold 200 shares worth $41,316. Tanner Bruce L sold 32,000 shares worth $6.69M. Dewar Patrick M sold 15,453 shares worth $3.23 million. Akerson Daniel F bought 2,000 shares worth $380,318. The insider Hewson Marillyn A sold 45,700 shares worth $8.81M.
Lockheed Martin Corporation is a global security and aerospace company. The company has a market cap of $65.52 billion. The Firm is engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, services and products. It has 19.37 P/E ratio. The Firm operates in five divisions: Aeronautics, Information Systems & Global Solutions , Missiles and Fire Control (MFC), Mission Systems and Training (MST) and Space Systems.