Lockheed Martin (NYSE:LMT) Stock Price Up 1.6% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT) rose 1.6% during mid-day trading on Thursday . The stock traded as high as $465.00 and last traded at $464.04. Approximately 555,395 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 1,308,734 shares. The stock had previously closed at $456.60.

Analyst Ratings Changes

LMT has been the topic of several recent analyst reports. Melius Research cut shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Morgan Stanley upgraded shares of Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 target price on the stock in a research note on Wednesday, April 16th. Wall Street Zen cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 3rd. Wells Fargo & Company lowered their target price on shares of Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Finally, Melius cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus target price of $541.80.

Lockheed Martin Stock Performance

The company has a market cap of $113.81 billion, a PE ratio of 21.82, a PEG ratio of 2.07 and a beta of 0.29. The business’s 50-day moving average is $470.72 and its 200 day moving average is $470.42. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping analysts’ consensus estimates of $6.34 by $0.94. The company had revenue of $17.96 billion for the quarter, compared to analysts’ expectations of $17.83 billion. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. On average, equities research analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Monday, June 2nd. Lockheed Martin’s payout ratio is presently 57.02%.

Institutional Investors Weigh In On Lockheed Martin

Large investors have recently added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new stake in Lockheed Martin in the 4th quarter worth $32,000. TruNorth Capital Management LLC bought a new stake in Lockheed Martin in the 1st quarter worth $31,000. Mizuho Securities Co. Ltd. bought a new stake in Lockheed Martin in the 4th quarter worth $34,000. Heck Capital Advisors LLC bought a new stake in Lockheed Martin in the 4th quarter worth $35,000. Finally, Redwood Park Advisors LLC bought a new stake in Lockheed Martin in the 4th quarter worth $40,000. 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.