Lockheed Martin (NYSE:LMT) Sets New 52-Week High – Time to Buy?

Lockheed Martin Corporation (NYSE:LMT) shares reached a new 52-week high on Friday . The company traded as high as $653.48 and last traded at $651.5180, with a volume of 306824 shares traded. The stock had previously closed at $637.43.

Analyst Ratings Changes

Several analysts have recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Lockheed Martin from $464.00 to $517.00 and gave the company a “sell” rating in a research report on Monday, February 2nd. Truist Financial increased their target price on Lockheed Martin from $605.00 to $695.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Royal Bank Of Canada increased their price objective on shares of Lockheed Martin from $615.00 to $650.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. DZ Bank lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and set a $665.00 target price for the company. in a research report on Tuesday, February 3rd. Finally, Morgan Stanley set a $675.00 price target on shares of Lockheed Martin in a research note on Wednesday, February 4th. Six analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Lockheed Martin has an average rating of “Hold” and an average price target of $612.50.

Lockheed Martin Price Performance

The firm has a market capitalization of $150.02 billion, a P/E ratio of 30.37, a price-to-earnings-growth ratio of 1.14 and a beta of 0.23. The company has a current ratio of 1.09, a quick ratio of 0.94 and a debt-to-equity ratio of 3.05. The firm has a 50 day moving average price of $541.42 and a 200-day moving average price of $492.08.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Thursday, January 29th. The aerospace company reported $5.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.53). Lockheed Martin had a return on equity of 108.53% and a net margin of 6.69%.The company had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter in the prior year, the business earned $7.67 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 2nd will be given a $3.45 dividend. This represents a $13.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Monday, March 2nd. Lockheed Martin’s dividend payout ratio is 64.22%.

Institutional Investors Weigh In On Lockheed Martin

Several hedge funds and other institutional investors have recently modified their holdings of LMT. Cerro Pacific Wealth Advisors LLC grew its holdings in shares of Lockheed Martin by 1.2% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 1,376 shares of the aerospace company’s stock worth $665,000 after purchasing an additional 16 shares during the last quarter. Garner Asset Management Corp grew its stake in Lockheed Martin by 0.9% in the fourth quarter. Garner Asset Management Corp now owns 1,735 shares of the aerospace company’s stock worth $839,000 after purchasing an additional 16 shares in the last quarter. Davis R M Inc. lifted its holdings in shares of Lockheed Martin by 1.3% in the 4th quarter. Davis R M Inc. now owns 1,264 shares of the aerospace company’s stock worth $612,000 after buying an additional 16 shares during the period. Broadway Wealth Solutions Inc. grew its position in shares of Lockheed Martin by 3.6% during the 4th quarter. Broadway Wealth Solutions Inc. now owns 484 shares of the aerospace company’s stock worth $234,000 after buying an additional 17 shares in the last quarter. Finally, Aspire Growth Partners LLC lifted its stake in Lockheed Martin by 0.7% in the fourth quarter. Aspire Growth Partners LLC now owns 2,515 shares of the aerospace company’s stock worth $1,217,000 after acquiring an additional 17 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Company Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.