Lockheed Martin (NYSE:LMT) Given New $665.00 Price Target at Royal Bank of Canada

Lockheed Martin (NYSE:LMT) had its price objective decreased by Royal Bank of Canada from $675.00 to $665.00 in a research note released on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the aerospace company’s stock.

Other equities research analysts have also issued research reports about the company. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 10th. TD Cowen raised their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday. Susquehanna cut their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday. Barclays increased their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $606.71.

Lockheed Martin Stock Performance

Shares of NYSE:LMT opened at $571.10 on Wednesday. The stock has a market capitalization of $137.03 billion, a P/E ratio of 20.90, a P/E/G ratio of 4.84 and a beta of 0.47. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. Lockheed Martin has a 1-year low of $413.92 and a 1-year high of $618.95. The business has a 50-day moving average price of $579.95 and a two-hundred day moving average price of $513.50.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same period last year, the business posted $6.77 earnings per share. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities analysts predict that Lockheed Martin will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced 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 is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.31%. Lockheed Martin’s dividend payout ratio (DPR) is currently 48.30%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LMT. CVA Family Office LLC increased its holdings in Lockheed Martin by 1.1% in the 3rd 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. Quad Cities Investment Group LLC increased its stake in 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 acquiring an additional 19 shares during the last quarter. HTLF Bank raised its position in Lockheed Martin by 3.7% during the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after purchasing an additional 20 shares in the last quarter. tru Independence LLC boosted its stake in shares of Lockheed Martin by 2.5% in the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after purchasing an additional 20 shares in the last quarter. Finally, Sachetta LLC increased its position in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

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.