Lockheed Martin (NYSE:LMT) Trading Up 0.1% After Analyst Upgrade

Lockheed Martin Co. (NYSE:LMT)’s share price traded up 0.1% during trading on Thursday after TD Cowen raised their price target on the stock from $560.00 to $610.00. TD Cowen currently has a buy rating on the stock. Lockheed Martin traded as high as $573.93 and last traded at $571.77. 249,125 shares were traded during trading, a decline of 76% from the average session volume of 1,050,761 shares. The stock had previously closed at $571.10.

Several other equities analysts have also commented on LMT. 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 research report on Wednesday, July 24th. UBS Group increased their price objective on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research report on Tuesday, September 3rd. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. raised their price target on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $606.71.

Institutional Investors Weigh In On Lockheed Martin

Institutional investors and hedge funds have recently bought and sold shares of the business. Mattson Financial Services LLC purchased a new stake in Lockheed Martin in the 2nd quarter worth approximately $27,000. Sachetta LLC lifted its holdings in 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 buying an additional 20 shares during the period. Wiser Advisor Group LLC lifted its holdings in Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after buying an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in Lockheed Martin in the 1st quarter worth approximately $30,000. Finally, Stephens Consulting LLC lifted its holdings 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 period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.3 %

The firm has a market cap of $134.03 billion, a PE ratio of 20.43, a PEG ratio of 4.62 and a beta of 0.47. The company has a current ratio of 1.30, a quick ratio of 1.07 and a debt-to-equity ratio of 2.66. The firm has a fifty day simple moving average of $580.03 and a two-hundred day simple moving average of $513.85.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $6.77 EPS. Equities analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is presently 45.62%.

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.