Lockheed Martin (NYSE:LMT) Trading 1.6% Higher – Time to Buy?

Lockheed Martin Co. (NYSE:LMT)’s stock price was up 1.6% during trading on Monday . The company traded as high as $574.70 and last traded at $573.62. Approximately 262,460 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 1,051,317 shares. The stock had previously closed at $564.56.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a report on Tuesday, September 3rd. Wells Fargo & Company raised their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Robert W. Baird upped their target price on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Finally, Morgan Stanley increased their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Stock Performance

The business has a 50 day moving average price of $578.09 and a 200 day moving average price of $523.56. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The stock has a market capitalization of $132.20 billion, a PE ratio of 20.19, a PEG ratio of 4.63 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping 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 business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the previous year, the company earned $6.77 earnings per share. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities research analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.37%. Lockheed Martin’s dividend payout ratio is 47.79%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LMT. GAMMA Investing LLC raised its position in Lockheed Martin by 130.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after buying an additional 2,019 shares during the last quarter. Old West Investment Management LLC grew its stake in shares of Lockheed Martin by 6.6% in the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after acquiring an additional 1,643 shares during the period. Buck Wealth Strategies LLC purchased a new position in shares of Lockheed Martin during the second quarter valued at approximately $6,611,000. Financial Enhancement Group LLC lifted its position in Lockheed Martin by 2,268.3% during the third quarter. Financial Enhancement Group LLC now owns 10,444 shares of the aerospace company’s stock valued at $6,105,000 after purchasing an additional 10,003 shares during the period. Finally, McAdam LLC boosted its holdings in Lockheed Martin by 101.7% in the third quarter. McAdam LLC now owns 1,178 shares of the aerospace company’s stock worth $689,000 after purchasing an additional 594 shares during the last quarter. 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.