Lockheed Martin (NYSE:LMT) Upgraded by StockNews.com to Strong-Buy Rating

StockNews.com upgraded shares of Lockheed Martin (NYSE:LMT) from a buy rating to a strong-buy rating in a report published on Tuesday.

Other equities analysts have also recently issued research reports about the company. Robert W. Baird boosted their price objective on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Wells Fargo & Company cut their price target on Lockheed Martin from $602.00 to $543.00 and set an “equal weight” rating for the company in a report on Wednesday, December 11th. JPMorgan Chase & Co. upped their price target on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Susquehanna lowered their price objective on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday, October 23rd. Finally, Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus price target of $612.29.

Lockheed Martin Stock Down 0.2 %

NYSE:LMT opened at $490.47 on Tuesday. The firm has a market capitalization of $116.26 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 4.13 and a beta of 0.46. Lockheed Martin has a 1-year low of $413.92 and a 1-year high of $618.95. 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 business’s fifty day moving average price is $548.15 and its 200 day moving average price is $533.36.

Lockheed Martin (NYSE:LMT) last released 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 company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the prior year, the company posted $6.77 EPS. The firm’s revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts forecast that Lockheed Martin will post 26.88 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.69%. Lockheed Martin’s dividend payout ratio (DPR) is presently 47.79%.

Hedge Funds Weigh In On Lockheed Martin

Hedge funds have recently modified their holdings of the stock. Garden State Investment Advisory Services LLC bought a new position in Lockheed Martin during the third quarter worth about $211,000. FFG Partners LLC grew its holdings in Lockheed Martin by 5.0% during the third quarter. FFG Partners LLC now owns 18,708 shares of the aerospace company’s stock worth $10,936,000 after purchasing an additional 886 shares during the period. Beaird Harris Wealth Management LLC grew its holdings in Lockheed Martin by 196.0% during the third quarter. Beaird Harris Wealth Management LLC now owns 148 shares of the aerospace company’s stock worth $87,000 after purchasing an additional 98 shares during the period. American Trust grew its holdings in Lockheed Martin by 20.0% during the third quarter. American Trust now owns 1,553 shares of the aerospace company’s stock worth $908,000 after purchasing an additional 259 shares during the period. Finally, Old North State Trust LLC grew its holdings in Lockheed Martin by 4.3% during the third quarter. Old North State Trust LLC now owns 745 shares of the aerospace company’s stock worth $435,000 after purchasing an additional 31 shares during the period. Institutional investors 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.