Lockheed Martin (NYSE:LMT) Shares Up 1.4% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT) shares were up 1.4% during mid-day trading on Thursday . The company traded as high as $542.53 and last traded at $542.27. Approximately 253,306 shares changed hands during trading, a decline of 76% from the average daily volume of 1,060,004 shares. The stock had previously closed at $534.73.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on LMT shares. Robert W. Baird raised their price target on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Citigroup raised their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. raised their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Susquehanna reduced their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Stock Performance

The company has a market cap of $128.53 billion, a PE ratio of 19.63, a price-to-earnings-growth ratio of 4.43 and a beta of 0.49. The firm’s fifty day moving average is $573.12 and its 200 day moving average is $526.94. 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 quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.77 EPS. As a group, research analysts predict that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.43%. 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. Lockheed Martin’s payout ratio is presently 45.62%.

Institutional Investors Weigh In On Lockheed Martin

Several institutional investors and hedge funds have recently added to or reduced their stakes in LMT. CVA Family Office LLC increased its position in shares of Lockheed Martin by 1.1% in the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after buying an additional 17 shares in the last quarter. AllGen Financial Advisors Inc. increased its position in shares of Lockheed Martin by 4.0% in the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after buying an additional 18 shares in the last quarter. Salomon & Ludwin LLC increased its position in shares of Lockheed Martin by 20.5% in the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock valued at $62,000 after buying an additional 18 shares in the last quarter. Sunburst Financial Group LLC increased its position in shares of Lockheed Martin by 3.3% in the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after buying an additional 18 shares in the last quarter. Finally, Quad Cities Investment Group LLC increased its position in shares of Lockheed Martin by 1.2% in the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after buying an additional 19 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.