Deutsche Bank Aktiengesellschaft Raises Lockheed Martin (NYSE:LMT) Price Target to $620.00

Lockheed Martin (NYSE:LMT) had its price target raised by Deutsche Bank Aktiengesellschaft from $600.00 to $620.00 in a research note released on Thursday, Benzinga reports. They currently have a buy rating on the aerospace company’s stock.

LMT has been the topic of a number of other research reports. Melius Research raised shares of Lockheed Martin to a strong-buy rating in a research note on Tuesday, September 3rd. Royal Bank of Canada raised Lockheed Martin from a sector perform rating to an outperform rating and increased their target price for the stock from $500.00 to $600.00 in a research report on Monday, August 5th. Melius raised Lockheed Martin from a hold rating to a buy rating and set a $704.00 price target for the company in a research report on Tuesday, September 3rd. StockNews.com lowered Lockheed Martin from a strong-buy rating to a buy rating in a research note on Wednesday. Finally, Bank of America reaffirmed a buy rating and issued a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of Moderate Buy and an average price target of $562.54.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $605.13 on Thursday. The company has a market cap of $145.19 billion, a P/E ratio of 22.14, a P/E/G ratio of 4.66 and a beta of 0.47. The business has a fifty day simple moving average of $565.71 and a 200-day simple moving average of $499.64. Lockheed Martin has a 52 week low of $393.77 and a 52 week high of $611.49. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The firm had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the company earned $6.73 EPS. Equities research analysts forecast that Lockheed Martin will post 26.65 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.18%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is currently 46.10%.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds have recently bought and sold shares of the business. Wulff Hansen & CO. boosted its stake in shares of Lockheed Martin by 56,626.7% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after buying an additional 1,019,281 shares during the last quarter. Van ECK Associates Corp boosted its stake in Lockheed Martin by 1,075.2% during the 1st quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock valued at $218,841,000 after acquiring an additional 440,169 shares during the last quarter. Confluence Investment Management LLC acquired a new position in Lockheed Martin during the 1st quarter worth $151,402,000. Capital Research Global Investors increased its position in shares of Lockheed Martin by 29.7% in the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock worth $433,621,000 after purchasing an additional 218,506 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Lockheed Martin by 219.3% in the 1st quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock valued at $149,138,000 after purchasing an additional 218,466 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.