Shares of Lockheed Martin Co. (NYSE:LMT – Get Free Report) were up 0.2% during mid-day trading on Wednesday . The stock traded as high as $583.75 and last traded at $580.07. Approximately 134,659 shares changed hands during trading, a decline of 87% from the average daily volume of 1,060,780 shares. The stock had previously closed at $578.63.
Analysts Set New Price Targets
LMT has been the topic of a number of research analyst reports. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a report on Tuesday, September 3rd. Royal Bank of Canada raised shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $500.00 to $600.00 in a report on Monday, August 5th. UBS Group lifted their price target on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Wells Fargo & Company lifted their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and a consensus target price of $553.43.
Lockheed Martin Price Performance
The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The company has a 50-day moving average of $550.14 and a 200-day moving average of $491.21. The firm has a market capitalization of $137.61 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 4.66 and a beta of 0.47.
Lockheed Martin (NYSE:LMT – Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter last year, the business earned $6.73 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, research analysts anticipate that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.
Lockheed Martin Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a yield of 2.18%. Lockheed Martin’s dividend payout ratio (DPR) is currently 46.10%.
Insider Activity
In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the sale, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.17% of the company’s stock.
Institutional Investors Weigh In On Lockheed Martin
A number of institutional investors and hedge funds have recently added to or reduced their stakes in LMT. Sachetta LLC raised its holdings in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares in the last quarter. Wiser Advisor Group LLC grew its holdings 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 worth $29,000 after purchasing an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new position in Lockheed Martin in the 1st quarter valued at about $30,000. Stephens Consulting LLC grew its position in shares of Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in Lockheed Martin during the second quarter worth approximately $35,000. Institutional investors own 74.19% of the company’s stock.
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.