Lockheed Martin (NYSE:LMT) Stock Price Up 2% – Still a Buy?

Shares of Lockheed Martin Co. (NYSE:LMT) shot up 2% on Friday . The stock traded as high as $564.11 and last traded at $562.97. 271,622 shares were traded during mid-day trading, a decline of 74% from the average session volume of 1,050,831 shares. The stock had previously closed at $551.84.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Wells Fargo & Company boosted their target price on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, UBS Group upped their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Trading Up 2.3 %

The business has a 50 day moving average price of $578.06 and a 200 day moving average price of $521.21. The company has a market capitalization of $133.82 billion, a P/E ratio of 20.44, a PEG ratio of 4.51 and a beta of 0.49. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last issued its 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. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the prior year, the firm earned $6.77 earnings per share. The business’s quarterly revenue was up 1.3% on a year-over-year basis. Analysts anticipate that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.34%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s payout ratio is presently 47.79%.

Hedge Funds Weigh In On Lockheed Martin

Several institutional investors have recently modified their holdings of LMT. Atomi Financial Group Inc. increased its position in shares of Lockheed Martin by 2.0% during the first quarter. Atomi Financial Group Inc. now owns 1,827 shares of the aerospace company’s stock worth $831,000 after acquiring an additional 36 shares in the last quarter. NorthRock Partners LLC raised its stake in shares of Lockheed Martin by 10.3% in the 1st quarter. NorthRock Partners LLC now owns 2,031 shares of the aerospace company’s stock valued at $924,000 after purchasing an additional 189 shares during the period. Delta Financial Advisors LLC lifted its holdings in shares of Lockheed Martin by 6.1% in the first quarter. Delta Financial Advisors LLC now owns 1,347 shares of the aerospace company’s stock valued at $613,000 after purchasing an additional 77 shares in the last quarter. Williams Jones Wealth Management LLC. grew its holdings in shares of Lockheed Martin by 13.0% during the first quarter. Williams Jones Wealth Management LLC. now owns 8,444 shares of the aerospace company’s stock worth $3,841,000 after buying an additional 974 shares in the last quarter. Finally, Legacy Capital Group California Inc. raised its position in Lockheed Martin by 17.1% in the 1st quarter. Legacy Capital Group California Inc. now owns 865 shares of the aerospace company’s stock valued at $393,000 after buying an additional 126 shares during the last quarter. 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.