Lockheed Martin (NYSE:LMT) Shares Up 0.8%

Lockheed Martin Co. (NYSE:LMT)’s stock price rose 0.8% during mid-day trading on Monday . The stock traded as high as $559.60 and last traded at $559.29. Approximately 121,814 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 1,073,021 shares. The stock had previously closed at $555.01.

Analysts Set New Price Targets

Several research firms have weighed in on LMT. Wells Fargo & Company increased their target price on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Barclays upped their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. UBS Group raised their price objective on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, Bank of America raised Lockheed Martin from a “neutral” rating to a “buy” rating and boosted their target price for the company from $465.00 to $635.00 in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $541.85.

Lockheed Martin Trading Up 0.6 %

The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The stock has a market cap of $133.91 billion, a price-to-earnings ratio of 20.46, a P/E/G ratio of 4.40 and a beta of 0.46. The business has a 50-day simple moving average of $504.16 and a two-hundred day simple moving average of $469.36.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter in the prior year, the company posted $6.73 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. As a group, research analysts forecast that Lockheed Martin Co. will post 26.71 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a yield of 2.26%. Lockheed Martin’s payout ratio is presently 46.10%.

Insider Activity at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors and hedge funds have recently modified their holdings of the stock. Wulff Hansen & CO. lifted its holdings in shares of Lockheed Martin by 56,626.7% during the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after buying an additional 1,019,281 shares in the last quarter. Van ECK Associates Corp increased its stake in Lockheed Martin by 1,075.2% during the 1st quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock worth $218,841,000 after acquiring an additional 440,169 shares during the period. Franklin Resources Inc. increased its stake in Lockheed Martin by 14.9% during the 4th quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock worth $1,173,641,000 after acquiring an additional 336,588 shares during the period. Confluence Investment Management LLC acquired a new position in Lockheed Martin in the first quarter valued at about $151,402,000. Finally, Corient Private Wealth LLC grew its stake in Lockheed Martin by 91.8% during the fourth quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock worth $260,169,000 after buying an additional 274,680 shares in the last quarter. 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.