Lockheed Martin (NYSE:LMT) Stock Price Up 1.5%

Lockheed Martin Co. (NYSE:LMT) shot up 1.5% during mid-day trading on Wednesday . The company traded as high as $578.12 and last traded at $575.56. 222,857 shares were traded during mid-day trading, a decline of 79% from the average session volume of 1,067,431 shares. The stock had previously closed at $567.22.

Wall Street Analyst Weigh In

LMT has been the topic of a number of research reports. Susquehanna increased their price target on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Morgan Stanley raised their target price on Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a report on Tuesday. Royal Bank of Canada raised shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $500.00 to $600.00 in a report on Monday, August 5th. Finally, Barclays boosted 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $553.43.

Lockheed Martin Stock Down 1.1 %

The firm has a market cap of $136.43 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 4.56 and a beta of 0.46. The stock’s 50 day moving average is $522.34 and its 200 day moving average is $477.58. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same period last year, the firm earned $6.73 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is presently 46.10%.

Insider Activity

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.17% of the company’s stock.

Institutional Trading of Lockheed Martin

Several hedge funds and other institutional investors have recently modified their holdings of LMT. First Pacific Financial purchased a new position in Lockheed Martin during the 1st quarter valued at about $25,000. Sachetta LLC grew its holdings in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares in the last quarter. Wiser Advisor Group LLC increased 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 acquiring an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Lockheed Martin during the first quarter worth $30,000. Finally, Stephens Consulting LLC boosted its position in Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares during the last quarter. Institutional investors and hedge funds 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.