Lockheed Martin (NYSE:LMT) Trading Up 1.3% – What’s Next?

Lockheed Martin Co. (NYSE:LMT)’s stock price was up 1.3% on Wednesday . The company traded as high as $528.59 and last traded at $528.40. Approximately 221,558 shares changed hands during trading, a decline of 79% from the average daily volume of 1,074,254 shares. The stock had previously closed at $521.45.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LMT shares. TD Cowen upped their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. upped their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley upped their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Trading Up 0.8 %

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 company has a market cap of $124.62 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 4.29 and a beta of 0.49. The company’s 50 day simple moving average is $569.60 and its two-hundred day simple moving average is $528.50.

Lockheed Martin (NYSE:LMT) last issued 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. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.77 earnings per share. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 26.94 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 yield of 2.51%. Lockheed Martin’s dividend payout ratio (DPR) is 45.62%.

Institutional Trading of Lockheed Martin

Several hedge funds have recently added to or reduced their stakes in LMT. International Assets Investment Management LLC raised its holdings in Lockheed Martin by 60,592.0% in the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after acquiring an additional 1,556,609 shares in the last quarter. Wulff Hansen & CO. raised its holdings in 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 purchasing an additional 1,019,281 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Lockheed Martin by 124.0% during the third quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock worth $263,561,000 after purchasing an additional 249,591 shares in the last quarter. Wellington Management Group LLP raised its holdings in Lockheed Martin by 8.5% during the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after purchasing an additional 240,306 shares in the last quarter. Finally, FMR LLC raised its holdings in Lockheed Martin by 6.6% during the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after purchasing an additional 209,591 shares in the last quarter. Institutional investors and hedge funds 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.