Lockheed Martin (NYSE:LMT) Trading 0.3% Higher After Analyst Upgrade

Lockheed Martin Co. (NYSE:LMT)’s share price was up 0.3% on Friday after Susquehanna raised their price target on the stock from $565.00 to $705.00. Susquehanna currently has a positive rating on the stock. Lockheed Martin traded as high as $611.60 and last traded at $611.60. Approximately 145,897 shares traded hands during trading, a decline of 86% from the average daily volume of 1,043,519 shares. The stock had previously closed at $609.62.

Several other equities analysts have also weighed in on the company. Wells Fargo & Company increased their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. increased their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Morgan Stanley boosted their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Finally, UBS Group raised their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $597.92.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of the business’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 completion of the transaction, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lockheed Martin

Several hedge funds have recently bought and sold shares of LMT. Mattson Financial Services LLC bought a new stake in shares of Lockheed Martin during the 2nd quarter worth $27,000. Sachetta LLC boosted its holdings in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares in the last quarter. Wiser Advisor Group LLC increased its position in shares of Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Lockheed Martin during the 1st quarter valued at about $30,000. Finally, Stephens Consulting LLC lifted its position in Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Performance

The firm has a market cap of $146.80 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The company has a 50 day simple moving average of $578.29 and a 200-day simple moving average of $510.67. 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 earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $6.73 EPS. As a group, equities research analysts anticipate that Lockheed Martin Co. will post 26.68 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently declared 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 is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s payout ratio is 48.30%.

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.