Lockheed Martin (NYSE:LMT) Shares Up 0.4% – Here’s Why

Shares of Lockheed Martin Co. (NYSE:LMT) traded up 0.4% during mid-day trading on Tuesday . The company traded as high as $545.83 and last traded at $545.08. 101,070 shares changed hands during trading, a decline of 90% from the average session volume of 1,049,906 shares. The stock had previously closed at $543.10.

Analysts Set New Price Targets

Several equities analysts have commented on the company. TD Cowen upped their price objective on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. UBS Group upped their price target on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 23rd. Bank of America restated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. Finally, Royal Bank of Canada lowered their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Trading Up 0.0 %

The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The stock has a market capitalization of $130.84 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 4.44 and a beta of 0.49. The company has a 50-day moving average price of $578.42 and a 200 day moving average price of $520.28.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $6.77 earnings per share. On average, research analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $3.30 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.39%. Lockheed Martin’s dividend payout ratio is presently 45.62%.

Hedge Funds Weigh In On Lockheed Martin

Several institutional investors and hedge funds have recently bought and sold shares of LMT. International Assets Investment Management LLC increased its stake in Lockheed Martin by 60,592.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after purchasing an additional 1,556,609 shares in the last quarter. Wulff Hansen & CO. grew its holdings in shares of Lockheed Martin by 56,626.7% during the second 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. Los Angeles Capital Management LLC increased its position in shares of Lockheed Martin by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock valued at $263,561,000 after acquiring an additional 249,591 shares during the period. Capital Research Global Investors raised its stake in 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 acquiring an additional 218,506 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in Lockheed Martin by 219.3% during the 1st quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock worth $149,138,000 after acquiring an additional 218,466 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

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.