JPMorgan Chase & Co. Raises Lockheed Martin (NYSE:LMT) Price Target to $630.00

Lockheed Martin (NYSE:LMT) had its price target hoisted by JPMorgan Chase & Co. from $560.00 to $630.00 in a report published on Monday, Benzinga reports. They currently have an overweight rating on the aerospace company’s stock.

Other equities analysts have also recently issued research reports about the company. Susquehanna upped their target price on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. TD Cowen raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, October 8th. Royal Bank of Canada increased their price target on Lockheed Martin from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Finally, UBS Group increased their price target on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $597.92.

Lockheed Martin Price Performance

Shares of LMT opened at $609.69 on Monday. Lockheed Martin has a 12-month low of $413.92 and a 12-month high of $614.62. The business has a 50-day simple moving average of $577.08 and a two-hundred day simple moving average of $509.17. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The stock has a market cap of $146.29 billion, a PE ratio of 22.31, a PEG ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) 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 business had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter in the prior year, the firm earned $6.73 EPS. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Analysts anticipate that Lockheed Martin will post 26.68 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $3.30 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.17%. Lockheed Martin’s dividend payout ratio is presently 48.30%.

Insider Activity at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 8,877 shares in the company, valued at $4,574,850.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LMT. Chicago Partners Investment Group LLC boosted its holdings in Lockheed Martin by 1.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 1,626 shares of the aerospace company’s stock worth $702,000 after acquiring an additional 27 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Lockheed Martin by 5.6% in the fourth quarter. Fisher Asset Management LLC now owns 6,853 shares of the aerospace company’s stock worth $3,106,000 after purchasing an additional 364 shares during the last quarter. Leo Wealth LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter worth approximately $532,000. Stokes Family Office LLC purchased a new stake in shares of Lockheed Martin in the first quarter worth approximately $425,000. Finally, Duncan Williams Asset Management LLC purchased a new stake in shares of Lockheed Martin during the first quarter valued at approximately $897,000. Institutional investors own 74.19% of the company’s stock.

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.