Lockheed Martin (NYSE:LMT) Price Target Raised to $538.00

Lockheed Martin (NYSE:LMT) had its price objective increased by UBS Group from $511.00 to $538.00 in a report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the aerospace company’s stock.

LMT has been the topic of a number of other reports. Wells Fargo & Company increased their price target on shares of Lockheed Martin from $460.00 to $480.00 and gave the stock an equal weight rating in a report on Thursday, April 25th. TD Cowen raised shares of Lockheed Martin from a hold rating to a buy rating and increased their price target for the stock from $480.00 to $560.00 in a report on Wednesday. StockNews.com raised shares of Lockheed Martin from a buy rating to a strong-buy rating in a report on Thursday, April 25th. JPMorgan Chase & Co. raised shares of Lockheed Martin from a neutral rating to an overweight rating and increased their price objective for the company from $475.00 to $518.00 in a report on Monday, April 15th. Finally, The Goldman Sachs Group decreased their price objective on shares of Lockheed Martin from $380.00 to $377.00 and set a sell rating on the stock in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $518.91.

Lockheed Martin Stock Performance

Shares of NYSE LMT opened at $524.71 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.11 and a debt-to-equity ratio of 3.10. Lockheed Martin has a 12 month low of $393.77 and a 12 month high of $528.64. The company has a 50 day simple moving average of $469.59 and a two-hundred day simple moving average of $453.91. The stock has a market cap of $125.07 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 4.86 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) 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 period in the prior year, the firm posted $6.73 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, analysts predict that Lockheed Martin will post 26.43 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds and other institutional investors have recently bought and sold shares of the company. Warther Private Wealth LLC increased its position in Lockheed Martin by 86.1% during the fourth quarter. Warther Private Wealth LLC now owns 16,369 shares of the aerospace company’s stock worth $7,419,000 after purchasing an additional 7,575 shares during the last quarter. Morningstar Investment Services LLC increased its position in Lockheed Martin by 99.6% during the fourth quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock worth $66,697,000 after purchasing an additional 73,774 shares during the last quarter. AdvisorNet Financial Inc increased its position in Lockheed Martin by 0.4% during the fourth quarter. AdvisorNet Financial Inc now owns 7,741 shares of the aerospace company’s stock worth $3,509,000 after purchasing an additional 29 shares during the last quarter. Cercano Management LLC acquired a new stake in shares of Lockheed Martin during the fourth quarter valued at about $29,454,000. Finally, Brevan Howard Capital Management LP increased its position in shares of Lockheed Martin by 414.2% during the fourth quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock valued at $3,228,000 after acquiring an additional 5,736 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

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.