Lockheed Martin (NYSE:LMT) Stock Price Up 1.7% – Still a Buy?

Lockheed Martin Co. (NYSE:LMT)’s stock price was up 1.7% during mid-day trading on Tuesday . The company traded as high as $432.93 and last traded at $430.25. Approximately 1,014,357 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 1,476,088 shares. The stock had previously closed at $423.19.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on LMT shares. UBS Group reduced their target price on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. Truist Financial started coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. Citigroup reduced their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. JPMorgan Chase & Co. cut their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Finally, TD Cowen increased their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $555.60.

Lockheed Martin Price Performance

The company’s fifty day moving average is $475.34 and its 200 day moving average is $531.88. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The stock has a market cap of $100.83 billion, a PE ratio of 19.24, a price-to-earnings-growth ratio of 2.12 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 27.14 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

Institutional Trading of Lockheed Martin

Large investors have recently bought and sold shares of the company. Virtue Capital Management LLC grew its position in Lockheed Martin by 112.8% in the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after acquiring an additional 1,192 shares in the last quarter. Bank of Montreal Can grew its position in Lockheed Martin by 2.1% in the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after acquiring an additional 13,253 shares in the last quarter. Hilltop Holdings Inc. grew its position in Lockheed Martin by 79.9% in the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after acquiring an additional 5,361 shares in the last quarter. Capital Investment Advisors LLC grew its position in Lockheed Martin by 2.2% in the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after acquiring an additional 2,011 shares in the last quarter. Finally, Old West Investment Management LLC grew its position in Lockheed Martin by 6.6% in the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after acquiring an additional 1,643 shares in the last quarter. Institutional investors and hedge funds 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.