Lockheed Martin (NYSE:LMT) Reaches New 12-Month High at $562.34

Lockheed Martin Co. (NYSE:LMT) reached a new 52-week high on Monday . The stock traded as high as $562.34 and last traded at $544.50, with a volume of 79049 shares trading hands. The stock had previously closed at $548.77.

Analysts Set New Price Targets

A number of equities research analysts recently commented on LMT shares. JPMorgan Chase & Co. increased their price objective on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Wells Fargo & Company raised their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Royal Bank of Canada upgraded Lockheed Martin from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $500.00 to $600.00 in a research report on Monday. StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Finally, The Goldman Sachs Group dropped their price target on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $534.46.

Lockheed Martin Stock Down 0.8 %

The firm has a market cap of $128.99 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 4.40 and a beta of 0.46. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The firm has a fifty day moving average price of $480.10 and a 200-day moving average price of $457.97.

Lockheed Martin (NYSE:LMT) 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. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 26.71 EPS for the current year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.17% of the stock is currently owned by insiders.

Institutional Trading of Lockheed Martin

A number of institutional investors have recently modified their holdings of the company. First Pacific Financial purchased a new stake in Lockheed Martin during the first quarter worth approximately $25,000. Altshuler Shaham Ltd purchased a new stake in Lockheed Martin during the 4th quarter worth $26,000. Wiser Advisor Group LLC boosted its position in Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new stake in Lockheed Martin in the 1st quarter valued at $30,000. Finally, Stephens Consulting LLC raised its position in Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

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.