Lockheed Martin (NYSE:LMT) Stock Price Up 0.6% – Here’s Why

Lockheed Martin Co. (NYSE:LMT) shares shot up 0.6% during trading on Thursday . The company traded as high as $491.76 and last traded at $491.17. 160,725 shares changed hands during trading, a decline of 85% from the average session volume of 1,093,384 shares. The stock had previously closed at $488.13.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LMT. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Bank of America restated a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. Robert W. Baird upped their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Melius raised shares of 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. Finally, Citigroup boosted their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus price target of $612.29.

Lockheed Martin Stock Performance

The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The company has a market cap of $115.90 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 4.05 and a beta of 0.46. The company’s 50 day moving average price is $528.86 and its 200-day moving average price is $533.49.

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

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 2nd were 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 2.70%. The ex-dividend date of this dividend was Monday, December 2nd. Lockheed Martin’s payout ratio is currently 47.79%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Itau Unibanco Holding S.A. purchased a new stake in Lockheed Martin in the 3rd quarter worth approximately $26,000. Burkett Financial Services LLC purchased a new stake in shares of Lockheed Martin in the third quarter worth $32,000. Mattson Financial Services LLC bought a new stake in Lockheed Martin during the second quarter valued at $27,000. Sachetta LLC grew its position in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in Lockheed Martin in the 3rd quarter worth about $40,000. 74.19% of the stock is owned by 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.