Lockheed Martin (NYSE:LMT) Hits New 1-Year High After Earnings Beat

Lockheed Martin Co. (NYSE:LMT) reached a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $512.52 and last traded at $508.52, with a volume of 215461 shares changing hands. The stock had previously closed at $501.29.

The aerospace company reported $7.11 EPS for the quarter, beating the consensus estimate of $6.45 by $0.66. The business had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 90.61%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $6.73 earnings per share.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given a $3.15 dividend. This represents a $12.60 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is currently 46.10%.

Analyst Upgrades and Downgrades

Several brokerages have commented on LMT. Citigroup lifted their price objective on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Royal Bank of Canada lifted their target price on shares of Lockheed Martin from $470.00 to $500.00 and gave the company a “sector perform” rating in a report on Wednesday. UBS Group boosted their price target on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a report on Wednesday. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Finally, The Goldman Sachs Group dropped their target price on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $513.45.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Institutional Trading of Lockheed Martin

A number of large investors have recently made changes to their positions in the company. First Pacific Financial purchased a new position in Lockheed Martin in the first quarter valued at approximately $25,000. Altshuler Shaham Ltd acquired a new stake in shares of Lockheed Martin during the fourth quarter worth $26,000. Wiser Advisor Group LLC lifted its holdings in shares of Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares during the period. Activest Wealth Management lifted its holdings in shares of Lockheed Martin by 1,200.0% during the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 60 shares during the period. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Lockheed Martin during the first quarter worth $30,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Trading Up 1.2 %

The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89. The company has a fifty day moving average of $468.42 and a two-hundred day moving average of $453.45. The stock has a market capitalization of $125.16 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 4.67 and a beta of 0.46.

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.