Lockheed Martin (NYSE:LMT) PT Lowered to $665.00

Lockheed Martin (NYSE:LMT) had its price objective reduced by Royal Bank of Canada from $675.00 to $665.00 in a research report sent to investors on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the aerospace company’s stock.

A number of other research firms have also weighed in on LMT. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a report on Tuesday, September 3rd. Bank of America reissued a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. Barclays upped their price target on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Robert W. Baird increased their target price on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $606.71.

Lockheed Martin Trading Down 1.0 %

NYSE LMT opened at $571.10 on Wednesday. The stock has a market capitalization of $137.03 billion, a P/E ratio of 20.90, a P/E/G ratio of 4.84 and a beta of 0.47. Lockheed Martin has a one year low of $413.92 and a one year high of $618.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The business has a 50 day simple moving average of $579.95 and a 200 day simple moving average of $513.50.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same period in the prior year, the firm earned $6.77 earnings per share. Lockheed Martin’s revenue for the quarter was up 1.3% on a year-over-year basis. Research analysts expect that Lockheed Martin will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a $3.30 dividend. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is presently 48.30%.

Hedge Funds Weigh In On Lockheed Martin

Several hedge funds have recently bought and sold shares of LMT. Burkett Financial Services LLC purchased a new position in shares of Lockheed Martin during the 3rd quarter valued at $32,000. Mattson Financial Services LLC bought a new stake in Lockheed Martin during the second quarter valued at $27,000. Sachetta LLC grew its position in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares in the last quarter. Wiser Advisor Group LLC increased its stake in Lockheed Martin by 65.8% in 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. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Lockheed Martin in the 1st quarter valued at about $30,000. Hedge funds and other 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.