Lockheed Martin (NYSE:LMT) Rating Reiterated by Bank of America

Bank of America reiterated their buy rating on shares of Lockheed Martin (NYSE:LMT) in a research report released on Friday, Benzinga reports. Bank of America currently has a $635.00 price objective on the aerospace company’s stock.

Several other analysts also recently weighed in on LMT. Wells Fargo & Company boosted their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an equal weight rating in a research report on Wednesday, July 24th. Barclays lifted their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an equal weight rating in a report on Tuesday, July 30th. Morgan Stanley lifted their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an equal weight rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft upgraded Lockheed Martin from a hold rating to a buy rating and boosted their price objective for the company from $540.00 to $600.00 in a research report on Friday, July 26th. Finally, Royal Bank of Canada raised shares of 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. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $541.85.

Lockheed Martin Stock Performance

NYSE LMT opened at $568.10 on Friday. 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 business’s 50 day moving average price is $516.17 and its 200-day moving average price is $475.25. The company has a market cap of $135.41 billion, a P/E ratio of 20.79, a P/E/G ratio of 4.56 and a beta of 0.46. Lockheed Martin has a fifty-two week low of $393.77 and a fifty-two week high of $569.09.

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

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be paid a $3.15 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.22%. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Insiders Place Their Bets

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Lockheed Martin

Institutional investors have recently bought and sold shares of the business. Strategic Investment Solutions Inc. IL bought a new position in shares of Lockheed Martin in the second quarter worth about $201,000. New Century Financial Group LLC raised its stake in shares of Lockheed Martin by 179.6% during the second quarter. New Century Financial Group LLC now owns 1,258 shares of the aerospace company’s stock worth $588,000 after buying an additional 808 shares during the last quarter. 3Chopt Investment Partners LLC bought a new stake in shares of Lockheed Martin during the 2nd quarter valued at $1,097,000. Truist Financial Corp lifted its stake in Lockheed Martin by 0.5% in the second quarter. Truist Financial Corp now owns 266,352 shares of the aerospace company’s stock valued at $124,413,000 after buying an additional 1,315 shares during the period. Finally, Pathway Financial Advisers LLC raised its position in shares of Lockheed Martin by 1.9% in the 2nd quarter. Pathway Financial Advisers LLC now owns 9,092 shares of the aerospace company’s stock valued at $4,180,000 after acquiring an additional 168 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Company Profile

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.