Lockheed Martin (NYSE:LMT) Trading Up 0.2% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT)’s stock price was up 0.2% on Friday . The company traded as high as $481.96 and last traded at $480.39. Approximately 329,151 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 1,085,366 shares. The stock had previously closed at $479.66.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LMT. Bank of America reaffirmed a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. UBS Group lifted their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada lowered their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, TD Cowen increased their target price on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $612.29.

Lockheed Martin Stock Performance

The company has a market cap of $115.48 billion, a PE ratio of 17.64, a PEG ratio of 4.13 and a beta of 0.46. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The business’s 50 day moving average is $543.35 and its two-hundred day moving average is $532.64.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.77 earnings per share. On average, equities research analysts anticipate that Lockheed Martin Co. will post 26.88 EPS for the current year.

Lockheed Martin Increases Dividend

The business 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 of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.71%. Lockheed Martin’s dividend payout ratio is currently 47.79%.

Institutional Investors Weigh In On Lockheed Martin

A number of hedge funds have recently made changes to their positions in LMT. Lantz Financial LLC grew its position in Lockheed Martin by 2.6% in the second quarter. Lantz Financial LLC now owns 4,882 shares of the aerospace company’s stock worth $2,281,000 after acquiring an additional 123 shares in the last quarter. JB Capital LLC increased its position in shares of Lockheed Martin by 26.1% during the 2nd quarter. JB Capital LLC now owns 919 shares of the aerospace company’s stock valued at $429,000 after purchasing an additional 190 shares during the last quarter. Everhart Financial Group Inc. increased its position in shares of Lockheed Martin by 14.2% during the 2nd quarter. Everhart Financial Group Inc. now owns 1,286 shares of the aerospace company’s stock valued at $601,000 after purchasing an additional 160 shares during the last quarter. Family Firm Inc. purchased a new stake in Lockheed Martin during the 2nd quarter valued at $70,000. Finally, LRI Investments LLC lifted its position in Lockheed Martin by 26.0% in the second quarter. LRI Investments LLC now owns 2,669 shares of the aerospace company’s stock worth $1,246,000 after buying an additional 550 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

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.