Lockheed Martin (NYSE:LMT) Trading Up 0.1% After Analyst Upgrade

Lockheed Martin Co. (NYSE:LMT)’s stock price was up 0.1% during mid-day trading on Thursday after TD Cowen raised their price target on the stock from $560.00 to $610.00. TD Cowen currently has a buy rating on the stock. Lockheed Martin traded as high as $573.93 and last traded at $571.77. Approximately 249,125 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 1,050,761 shares. The stock had previously closed at $571.10.

LMT has been the subject of a number of other research reports. Wells Fargo & Company upped their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a research note on Tuesday, September 3rd. Bank of America reaffirmed a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Susquehanna dropped their price target on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $606.71.

Institutional Trading of Lockheed Martin

A number of institutional investors have recently added to or reduced their stakes in the stock. CVA Family Office LLC lifted its holdings in Lockheed Martin by 1.1% during the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after purchasing an additional 17 shares in the last quarter. AllGen Financial Advisors Inc. increased its stake in Lockheed Martin by 4.0% in the 3rd quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock worth $274,000 after acquiring an additional 18 shares during the last quarter. Salomon & Ludwin LLC increased its stake in Lockheed Martin by 20.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock worth $62,000 after acquiring an additional 18 shares during the last quarter. Sunburst Financial Group LLC increased its stake in Lockheed Martin by 3.3% in the 3rd quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock worth $331,000 after acquiring an additional 18 shares during the last quarter. Finally, Quad Cities Investment Group LLC increased its stake in Lockheed Martin by 1.2% in the 3rd quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after acquiring an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

The firm has a market capitalization of $134.03 billion, a P/E ratio of 20.43, a price-to-earnings-growth ratio of 4.62 and a beta of 0.47. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.07 and a current ratio of 1.30. The business has a 50 day simple moving average of $580.03 and a two-hundred day simple moving average of $513.85.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $6.77 EPS. On average, sell-side analysts expect that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $3.30 dividend. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is currently 45.62%.

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.