Lockheed Martin (NYSE:LMT) Given New $675.00 Price Target at Royal Bank of Canada

Lockheed Martin (NYSE:LMT) had its price target hoisted by Royal Bank of Canada from $600.00 to $675.00 in a research report released on Monday, Benzinga reports. They currently have an outperform rating on the aerospace company’s stock.

A number of other analysts have also issued reports on LMT. TD Cowen raised Lockheed Martin from a hold rating to a buy rating and boosted their target price for the company from $480.00 to $560.00 in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upped their price objective on Lockheed Martin from $600.00 to $620.00 and gave the stock a buy rating in a research report on Thursday, October 3rd. Bank of America reaffirmed a buy rating and set a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. Melius raised Lockheed Martin from a hold rating to a buy rating and set a $704.00 price objective on the stock in a research report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. upped their price objective on Lockheed Martin from $518.00 to $560.00 and gave the stock an overweight rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $568.31.

Lockheed Martin Trading Up 0.1 %

Shares of Lockheed Martin stock opened at $605.57 on Monday. The stock has a market cap of $145.30 billion, a P/E ratio of 22.16, a P/E/G ratio of 4.66 and a beta of 0.47. The stock’s 50 day simple moving average is $565.71 and its 200-day simple moving average is $500.06. Lockheed Martin has a 1-year low of $413.92 and a 1-year high of $611.59. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07.

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

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the sale, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lockheed Martin

Several hedge funds have recently made changes to their positions in LMT. Ameriprise Financial Inc. raised its holdings in Lockheed Martin by 1.7% during the second quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after purchasing an additional 31,545 shares in the last quarter. Legal & General Group Plc increased its holdings in Lockheed Martin by 14.9% in the second quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after buying an additional 180,074 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Lockheed Martin by 11.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock valued at $546,144,000 after buying an additional 119,052 shares in the last quarter. Wulff Hansen & CO. increased its holdings in Lockheed Martin by 56,626.7% in the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after buying an additional 1,019,281 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in shares of Lockheed Martin by 29.7% during the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after purchasing an additional 218,506 shares in the last quarter. Institutional investors and hedge funds 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.