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

Lockheed Martin Co. (NYSE:LMT) shares rose 1.3% during mid-day trading on Wednesday . The company traded as high as $528.59 and last traded at $528.40. Approximately 221,558 shares were traded 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

LMT has been the topic of a number of research reports. Morgan Stanley raised their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Bank of America reiterated a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. Finally, Royal Bank of Canada lowered their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Stock Up 0.8 %

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 stock has a market cap of $124.62 billion, a price-to-earnings ratio of 19.04, a P/E/G ratio of 4.29 and a beta of 0.49. The firm’s 50 day moving average is $569.60 and its two-hundred day moving average is $528.50.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.77 EPS. On average, sell-side analysts predict that Lockheed Martin Co. will post 26.94 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. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.51%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is presently 45.62%.

Institutional Trading of Lockheed Martin

A number of institutional investors have recently modified their holdings of LMT. Itau Unibanco Holding S.A. purchased a new stake in shares of Lockheed Martin during the 3rd quarter worth about $26,000. Mattson Financial Services LLC purchased a new stake in shares of Lockheed Martin during the 2nd quarter worth about $27,000. 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 worth $28,000 after purchasing an additional 20 shares during the period. Stephens Consulting LLC grew its holdings in shares of Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares during the period. Finally, Burkett Financial Services LLC purchased a new stake in shares of Lockheed Martin during the 3rd quarter worth about $32,000. 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.