Shares of Lockheed Martin Co. (NYSE:LMT – Get Free Report) traded up 0.1% during trading on Thursday . The stock traded as high as $466.47 and last traded at $466.03. 313,283 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 1,041,486 shares. The stock had previously closed at $465.70.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on LMT. The Goldman Sachs Group cut their price objective on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research report on Tuesday, April 23rd. UBS Group upped their price target on Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. raised Lockheed Martin from a “neutral” rating to an “overweight” rating and increased their price target for the company from $475.00 to $518.00 in a research report on Monday, April 15th. Wells Fargo & Company boosted their price objective on Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Lockheed Martin from $467.00 to $487.00 and gave the company a “hold” rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Hold” and a consensus price target of $485.40.
Lockheed Martin Stock Up 0.1 %
The firm’s 50-day moving average price is $465.19 and its two-hundred day moving average price is $450.76. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.11 and a current ratio of 1.30. The firm has a market cap of $111.82 billion, a PE ratio of 17.05, a P/E/G ratio of 4.38 and a beta of 0.46.
Lockheed Martin (NYSE:LMT – Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, beating analysts’ consensus estimates of $5.80 by $0.53. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The firm had revenue of $17.20 billion during the quarter, compared to analysts’ expectations of $16.04 billion. During the same period in the previous year, the company earned $6.43 earnings per share. Lockheed Martin’s quarterly revenue was up 13.7% compared to the same quarter last year. As a group, equities research analysts expect that Lockheed Martin Co. will post 26.17 EPS for the current fiscal year.
Lockheed Martin Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be issued a $3.15 dividend. This represents a $12.60 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is currently 46.10%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of LMT. Vanguard Group Inc. increased its position in Lockheed Martin by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock worth $9,120,920,000 after purchasing an additional 279,162 shares during the period. Wellington Management Group LLP grew its holdings in Lockheed Martin by 4.0% during the third quarter. Wellington Management Group LLP now owns 3,158,783 shares of the aerospace company’s stock worth $1,291,816,000 after acquiring an additional 121,358 shares during the period. Franklin Resources Inc. raised its position in Lockheed Martin by 14.9% in the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock worth $1,173,641,000 after acquiring an additional 336,588 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Lockheed Martin by 10,526.6% in the fourth quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock valued at $617,416,000 after acquiring an additional 1,349,409 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Lockheed Martin by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,038,161 shares of the aerospace company’s stock worth $470,536,000 after purchasing an additional 27,349 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other 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.