Lockheed Martin (NYSE:LMT) Given New $705.00 Price Target at Susquehanna

Lockheed Martin (NYSE:LMT) had its price target boosted by Susquehanna from $565.00 to $705.00 in a report issued on Thursday morning, Benzinga reports. Susquehanna currently has a positive rating on the aerospace company’s stock.

Several other brokerages also recently commented on LMT. Royal Bank of Canada boosted their target price on shares of Lockheed Martin from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft lifted their price target on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Melius Research raised Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. UBS Group lifted their price target on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Barclays boosted their price objective on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and three have 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 price target of $597.92.

Lockheed Martin Trading Down 0.5 %

Shares of Lockheed Martin stock opened at $609.69 on Thursday. The company’s fifty day simple moving average is $577.08 and its 200-day simple moving average is $509.17. The company has a market cap of $146.29 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 4.84 and a beta of 0.47. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. Lockheed Martin has a 1 year low of $413.92 and a 1 year high of $614.62.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter in the previous year, the company earned $6.73 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts expect that Lockheed Martin will post 26.68 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.17%. Lockheed Martin’s payout ratio is currently 48.30%.

Insider Activity at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was 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 in the company, valued at approximately $4,574,850.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is owned by insiders.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors and hedge funds have recently modified their holdings of the business. Mattson Financial Services LLC acquired a new position in Lockheed Martin during the 2nd quarter worth approximately $27,000. Sachetta LLC boosted its position in 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 acquiring an additional 20 shares during the last quarter. Wiser Advisor Group LLC boosted its position in Lockheed Martin by 65.8% during the 1st 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. acquired a new position in Lockheed Martin during the 1st quarter worth approximately $30,000. Finally, Stephens Consulting LLC boosted its position in 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 acquiring an additional 22 shares during 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.