Lockheed Martin (NYSE:LMT) Stock Price Up 0.3% – Time to Buy?

Lockheed Martin Co. (NYSE:LMT) shares shot up 0.3% on Wednesday . The stock traded as high as $488.73 and last traded at $488.13. 375,892 shares traded hands during trading, a decline of 66% from the average session volume of 1,097,260 shares. The stock had previously closed at $486.49.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LMT. Robert W. Baird increased their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Wells Fargo & Company lowered their price objective on Lockheed Martin from $602.00 to $543.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 11th. Royal Bank of Canada cut their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Bank of America reaffirmed a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and an average price target of $612.29.

Lockheed Martin Price Performance

The firm has a market capitalization of $116.14 billion, a PE ratio of 17.74, a P/E/G ratio of 4.05 and a beta of 0.46. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The business’s 50 day moving average is $531.32 and its two-hundred day moving average is $533.34.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion during 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 firm’s revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.77 EPS. As a group, research analysts anticipate that Lockheed Martin Co. will post 26.88 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.69%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is currently 47.79%.

Institutional Investors Weigh In On Lockheed Martin

A number of institutional investors have recently made changes to their positions in the business. Itau Unibanco Holding S.A. purchased a new stake in shares of Lockheed Martin during the third quarter valued at approximately $26,000. Mattson Financial Services LLC purchased a new position in shares of Lockheed Martin in the second quarter valued at about $27,000. Sachetta LLC boosted its holdings in shares of Lockheed Martin by 50.0% during 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 period. Burkett Financial Services LLC bought a new stake in shares of Lockheed Martin in the third quarter worth about $32,000. Finally, Capital Performance Advisors LLP purchased a new position in Lockheed Martin during the 3rd quarter valued at about $40,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

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.