Lockheed Martin (NYSE:LMT) Shares Up 1.4% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT) shares shot up 1.4% on Thursday . The stock traded as high as $542.53 and last traded at $542.27. 253,306 shares were traded during mid-day trading, a decline of 76% from the average session volume of 1,060,004 shares. The stock had previously closed at $534.73.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LMT. Citigroup increased their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Morgan Stanley increased their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a research note on Tuesday, September 3rd. Robert W. Baird raised their price target on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Finally, TD Cowen raised their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Up 0.0 %

The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The firm has a market cap of $128.53 billion, a PE ratio of 19.63, a P/E/G ratio of 4.43 and a beta of 0.49. The business’s 50-day simple moving average is $573.12 and its 200 day simple moving average is $526.94.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 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 net margin of 9.36% and a return on equity of 101.44%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $6.77 EPS. As a group, equities research analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a $3.30 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is currently 45.62%.

Institutional Trading of Lockheed Martin

A number of institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in Lockheed Martin by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock worth $2,816,898,000 after purchasing an additional 83,997 shares in the last quarter. FMR LLC boosted its stake in Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after purchasing an additional 209,591 shares in the last quarter. Wellington Management Group LLP boosted its stake in Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after purchasing an additional 240,306 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Lockheed Martin by 1.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after purchasing an additional 31,545 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after purchasing an additional 1,556,609 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

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.