Lockheed Martin (NYSE:LMT) Upgraded at TD Cowen

TD Cowen upgraded shares of Lockheed Martin (NYSE:LMT) to a strong-buy rating in a research report report published on Tuesday morning, Zacks.com reports.

Several other research firms have also recently issued reports on LMT. Melius Research upgraded Lockheed Martin to a strong-buy rating in a research report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a buy rating in a report on Thursday, October 3rd. Susquehanna upped their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a positive rating in a research report on Wednesday, July 24th. Bank of America reiterated a buy rating and set a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. Finally, UBS Group upped their price target on Lockheed Martin from $511.00 to $538.00 and gave the stock a neutral rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin has an average rating of Moderate Buy and a consensus target price of $581.77.

Lockheed Martin Stock Performance

NYSE:LMT opened at $604.27 on Tuesday. The firm has a market cap of $144.03 billion, a price-to-earnings ratio of 21.82, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. Lockheed Martin has a 1-year low of $413.92 and a 1-year high of $611.59. The firm’s fifty day moving average price is $570.92 and its 200 day moving average price is $503.72.

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 business had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business posted $6.73 earnings per share. On average, sell-side analysts expect that Lockheed Martin will post 26.68 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.18%. Lockheed Martin’s payout ratio is 45.74%.

Insider Activity

In related 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 value of $2,048,556.00. Following the completion of the transaction, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Mattson Financial Services LLC acquired a new stake in Lockheed Martin during the 2nd quarter worth approximately $27,000. Sachetta LLC raised its stake in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares during the period. Wiser Advisor Group LLC lifted its holdings in shares of Lockheed Martin by 65.8% during the 1st 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. Edmond DE Rothschild Holding S.A. purchased a new stake in Lockheed Martin during the 1st quarter worth $30,000. Finally, Stephens Consulting LLC increased its holdings in Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

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.