Lockheed Martin (NYSE:LMT) Price Target Increased to $500.00 by Analysts at Royal Bank of Canada

Lockheed Martin (NYSE:LMT) had its price objective hoisted by Royal Bank of Canada from $470.00 to $500.00 in a report published on Wednesday morning, Benzinga reports. The firm currently has a sector perform rating on the aerospace company’s stock.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. raised Lockheed Martin from a neutral rating to an overweight rating and upped their target price for the company from $475.00 to $518.00 in a research note on Monday, April 15th. StockNews.com raised Lockheed Martin from a buy rating to a strong-buy rating in a research note on Thursday, April 25th. TD Cowen raised Lockheed Martin from a hold rating to a buy rating and increased their price target for the stock from $480.00 to $560.00 in a research note on Wednesday. Citigroup increased their price target on Lockheed Martin from $508.00 to $525.00 and gave the stock a buy rating in a research note on Wednesday, April 24th. Finally, Susquehanna increased their price target on Lockheed Martin from $540.00 to $565.00 and gave the stock a positive rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $518.91.

Lockheed Martin Stock Performance

LMT opened at $524.80 on Wednesday. The stock has a market cap of $125.09 billion, a P/E ratio of 19.20, a P/E/G ratio of 4.89 and a beta of 0.46. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.11. The stock’s 50 day simple moving average is $469.59 and its 200 day simple moving average is $453.90. Lockheed Martin has a 1-year low of $393.77 and a 1-year high of $528.64.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter in the prior year, the firm posted $6.73 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts anticipate that Lockheed Martin will post 26.26 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given a $3.15 dividend. This represents a $12.60 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is currently 46.10%.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction on Wednesday, July 24th. The stock was 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 directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of Lockheed Martin

Large investors have recently added to or reduced their stakes in the stock. First Pacific Financial acquired a new stake in Lockheed Martin in the 1st quarter valued at $25,000. Altshuler Shaham Ltd acquired a new stake in Lockheed Martin in the 4th quarter valued at $26,000. Wiser Advisor Group LLC grew its stake in shares of Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 25 shares in the last quarter. Activest Wealth Management grew its stake in shares of Lockheed Martin by 1,200.0% during the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 60 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Lockheed Martin during the first quarter valued at about $30,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

About Lockheed Martin

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.