Lockheed Martin (NYSE:LMT) Upgraded at StockNews.com

StockNews.com upgraded shares of Lockheed Martin (NYSE:LMT) from a buy rating to a strong-buy rating in a report released on Tuesday.

Several other brokerages also recently weighed in on LMT. Robert W. Baird boosted their target price on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Bank of America restated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. UBS Group increased their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Susquehanna dropped their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada cut their target price on 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 analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $612.29.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $479.66 on Tuesday. Lockheed Martin has a one year low of $413.92 and a one year high of $618.95. The company has a market capitalization of $113.70 billion, a PE ratio of 17.37, a P/E/G ratio of 4.13 and a beta of 0.46. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The company has a 50-day simple moving average of $543.35 and a two-hundred day simple moving average of $532.64.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. Lockheed Martin’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.77 EPS. Research analysts expect that Lockheed Martin will post 26.88 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.75%. Lockheed Martin’s dividend payout ratio (DPR) is presently 47.79%.

Hedge Funds Weigh In On Lockheed Martin

Several large investors have recently made changes to their positions in LMT. Itau Unibanco Holding S.A. purchased a new position in Lockheed Martin in the third quarter valued at $26,000. Mattson Financial Services LLC acquired a new stake in shares of Lockheed Martin during the 2nd quarter valued at about $27,000. Sachetta LLC increased its stake in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares in the last quarter. 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 worth $31,000 after purchasing an additional 22 shares in the last quarter. Finally, Burkett Financial Services LLC acquired a new stake in Lockheed Martin in the third quarter valued at approximately $32,000. 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.