Lockheed Martin (NYSE:LMT) Trading Up 0.1% – Still a Buy?

Lockheed Martin Co. (NYSE:LMT) was up 0.1% during mid-day trading on Monday . The company traded as high as $513.96 and last traded at $513.31. Approximately 264,695 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 1,075,518 shares. The stock had previously closed at $513.03.

Analysts Set New Price Targets

LMT has been the subject of a number of recent analyst reports. 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. Royal Bank of Canada lowered their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Susquehanna cut their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research note on Wednesday, October 23rd. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Trading Down 0.3 %

The stock has a market capitalization of $121.27 billion, a P/E ratio of 18.58, a P/E/G ratio of 4.19 and a beta of 0.47. The stock’s 50 day moving average price is $562.51 and its 200-day moving average price is $531.55. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $6.77 EPS. As a group, equities research analysts expect that Lockheed Martin Co. will post 26.94 earnings per share 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 given a $3.30 dividend. 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 2.58%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is presently 47.79%.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds and other institutional investors have recently bought and sold shares of the company. CVA Family Office LLC raised its holdings in Lockheed Martin by 1.1% in the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after buying an additional 17 shares during the period. AllGen Financial Advisors Inc. raised its position in Lockheed Martin by 4.0% in the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after purchasing an additional 18 shares during the period. Salomon & Ludwin LLC lifted its stake in shares of Lockheed Martin by 20.5% during the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock worth $62,000 after purchasing an additional 18 shares in the last quarter. Sunburst Financial Group LLC boosted its position in shares of Lockheed Martin by 3.3% in the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock worth $331,000 after buying an additional 18 shares during the period. Finally, Quad Cities Investment Group LLC grew its stake in shares of Lockheed Martin by 1.2% in the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after buying an additional 19 shares in the last quarter. 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.