Lockheed Martin Co. (NYSE:LMT – Get Free Report) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 2,380,000 shares, a decrease of 18.8% from the September 15th total of 2,930,000 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average daily volume of 1,040,000 shares, the short-interest ratio is currently 2.3 days.
Lockheed Martin Trading Up 1.1 %
LMT stock traded up $6.68 during midday trading on Friday, hitting $604.17. The stock had a trading volume of 526,025 shares, compared to its average volume of 1,056,277. The company’s 50-day moving average price is $572.03 and its 200 day moving average price is $505.23. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The firm has a market cap of $144.96 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. Lockheed Martin has a 12-month low of $413.92 and a 12-month high of $611.59.
Lockheed Martin (NYSE:LMT – Get Free Report) last released its earnings results 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 the consensus estimate of $17.05 billion. During the same period in the prior year, the business posted $6.73 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities research analysts predict that Lockheed Martin will post 26.68 earnings per share for the current fiscal year.
Lockheed Martin Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.18%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is 48.30%.
Insider Activity
In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction that occurred on 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 directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.
Institutional Trading of Lockheed Martin
A number of institutional investors have recently modified their holdings of LMT. Able Wealth Management LLC acquired a new position in Lockheed Martin during the 4th quarter worth approximately $45,000. Garde Capital Inc. acquired a new stake in Lockheed Martin during the 4th quarter valued at $101,000. Sierra Summit Advisors LLC purchased a new position in Lockheed Martin in the 4th quarter valued at about $291,000. Chicago Partners Investment Group LLC lifted its stake in shares of Lockheed Martin by 1.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 1,626 shares of the aerospace company’s stock worth $702,000 after acquiring an additional 27 shares in the last quarter. Finally, Syon Capital LLC increased its position in shares of Lockheed Martin by 33.3% in the 4th quarter. Syon Capital LLC now owns 2,394 shares of the aerospace company’s stock worth $1,085,000 after purchasing an additional 598 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.
Analysts Set New Price Targets
LMT has been the subject of a number of research reports. Susquehanna upped their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Barclays increased their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their target price on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. upped their price objective on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, 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 report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $581.77.
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.