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

Lockheed Martin Co. (NYSE:LMT)’s stock price was up 0.2% on Friday . The company traded as high as $493.40 and last traded at $490.75. Approximately 205,298 shares were traded during trading, a decline of 81% from the average daily volume of 1,091,841 shares. The stock had previously closed at $489.98.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LMT. Robert W. Baird boosted their price target on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Citigroup lifted their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Susquehanna lowered their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus price target of $612.29.

Lockheed Martin Stock Down 0.4 %

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 stock’s 50-day moving average price is $531.32 and its 200-day moving average price is $533.34. The company has a market cap of $115.65 billion, a P/E ratio of 17.66, a PEG ratio of 4.05 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the prior year, the company earned $6.77 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, research analysts forecast that Lockheed Martin Co. will post 26.88 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.71%. Lockheed Martin’s dividend payout ratio is presently 47.79%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Itau Unibanco Holding S.A. acquired a new position in Lockheed Martin during the 3rd quarter valued at about $26,000. Burkett Financial Services LLC purchased a new stake in shares of Lockheed Martin during the third quarter valued at approximately $32,000. Mattson Financial Services LLC purchased a new position in Lockheed Martin in the second quarter worth $27,000. Sachetta LLC boosted its position in Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in Lockheed Martin in the 3rd quarter valued at $40,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

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.