Lockheed Martin (NYSE:LMT) Stock Price Up 0.1% Following Analyst Upgrade

Lockheed Martin Co. (NYSE:LMT)’s share price was up 0.1% during trading on Thursday after TD Cowen raised their price target on the stock from $560.00 to $610.00. TD Cowen currently has a buy rating on the stock. Lockheed Martin traded as high as $573.93 and last traded at $571.77. Approximately 249,125 shares changed hands during trading, a decline of 76% from the average daily volume of 1,050,761 shares. The stock had previously closed at $571.10.

Several other equities research analysts have also issued reports on the stock. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 10th. 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. Wells Fargo & Company raised their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Barclays increased their price objective on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, Morgan Stanley raised their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $606.71.

Institutional Investors Weigh In On Lockheed Martin

A number of large investors have recently added to or reduced their stakes in LMT. Burkett Financial Services LLC purchased a new stake in Lockheed Martin in the third quarter worth $32,000. Mattson Financial Services LLC purchased a new stake in Lockheed Martin during the 2nd quarter valued at about $27,000. Sachetta LLC raised its holdings 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 buying an additional 20 shares during the last quarter. Wiser Advisor Group LLC lifted its stake in shares of Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after buying an additional 25 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Lockheed Martin during the first quarter valued at approximately $30,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

The business’s fifty day moving average is $579.95 and its two-hundred day moving average is $513.50. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The company has a market capitalization of $135.38 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $17.38 billion. During the same quarter in the prior year, the firm earned $6.77 earnings per share. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities research analysts predict that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently declared 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 represents a $13.20 annualized dividend and a yield of 2.34%. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 48.30%.

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.