JPMorgan Chase & Co. Boosts Lockheed Martin (NYSE:LMT) Price Target to $630.00

Lockheed Martin (NYSE:LMT) had its price target boosted by JPMorgan Chase & Co. from $560.00 to $630.00 in a report issued on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the aerospace company’s stock.

A number of other equities analysts have also commented on the stock. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research report on Tuesday, September 3rd. Susquehanna boosted their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Bank of America reaffirmed a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. TD Cowen raised shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada boosted their target price on shares of Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $587.15.

Lockheed Martin Trading Up 1.3 %

NYSE:LMT opened at $612.83 on Monday. Lockheed Martin has a 12 month low of $413.92 and a 12 month high of $614.62. The firm has a market cap of $147.04 billion, a price-to-earnings ratio of 22.42, a P/E/G ratio of 4.84 and a beta of 0.47. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The company’s 50 day moving average is $575.92 and its 200-day moving average is $508.46.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating 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 company had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same quarter last year, the firm posted $6.73 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities analysts anticipate that Lockheed Martin will post 26.68 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid 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 yield of 2.15%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 48.30%.

Insiders Place Their Bets

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now owns 8,877 shares in the company, valued at $4,574,850.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Lockheed Martin

Several institutional investors and hedge funds have recently made changes to their positions in the company. CVA Family Office LLC boosted its stake in shares of Lockheed Martin by 1.1% in the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after purchasing an additional 17 shares in the last quarter. Quad Cities Investment Group LLC boosted its stake in shares of Lockheed Martin by 1.2% in the 3rd quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after purchasing an additional 19 shares in the last quarter. HTLF Bank boosted its stake in shares of Lockheed Martin by 3.7% in the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after purchasing an additional 20 shares in the last quarter. tru Independence LLC boosted its stake in shares of Lockheed Martin by 2.5% in the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after purchasing an additional 20 shares in the last quarter. Finally, Sachetta LLC boosted 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. 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.