Lockheed Martin (NYSE:LMT) Shares Up 0.2% – Here’s Why

Shares of Lockheed Martin Co. (NYSE:LMT) shot up 0.2% during trading on Thursday . The company traded as high as $549.45 and last traded at $547.06. 152,595 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,051,497 shares. The stock had previously closed at $545.94.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on LMT shares. UBS Group raised their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Morgan Stanley increased their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Wells Fargo & Company upped their price objective on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, Susquehanna dropped 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 report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Price Performance

The firm has a market cap of $131.37 billion, a P/E ratio of 20.02, a PEG ratio of 4.62 and a beta of 0.47. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.07. The company’s 50-day moving average is $579.65 and its two-hundred day moving average is $517.13.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The company 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 quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.77 EPS. Sell-side analysts anticipate that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.41%. Lockheed Martin’s payout ratio is 48.30%.

Institutional Trading of Lockheed Martin

A number of hedge funds have recently added to or reduced their stakes in the stock. Stokes Family Office LLC bought a new position in Lockheed Martin in the first quarter valued at about $425,000. Cornerstone Wealth Management LLC raised its stake in shares of Lockheed Martin by 23.9% during the first quarter. Cornerstone Wealth Management LLC now owns 2,627 shares of the aerospace company’s stock valued at $1,195,000 after acquiring an additional 507 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its holdings in shares of Lockheed Martin by 2.6% during the first quarter. Legacy Wealth Asset Management LLC now owns 1,595 shares of the aerospace company’s stock worth $726,000 after purchasing an additional 40 shares during the period. Tempus Wealth Planning LLC increased its holdings in Lockheed Martin by 11.2% in the first quarter. Tempus Wealth Planning LLC now owns 693 shares of the aerospace company’s stock valued at $315,000 after purchasing an additional 70 shares during the period. Finally, New Century Financial Group LLC bought a new position in Lockheed Martin during the 1st quarter worth $205,000. Institutional investors and hedge funds 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.