Lockheed Martin (NYSE:LMT) Trading 3.1% Higher Following Better-Than-Expected Earnings

Lockheed Martin Co. (NYSE:LMT) was up 3.1% on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $493.88 and last traded at $489.08. Approximately 633,916 shares were traded during trading, a decline of 40% from the average daily volume of 1,054,672 shares. The stock had previously closed at $474.59.

The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 90.61% and a net margin of 9.48%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $6.73 earnings per share.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a $3.15 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.42%. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on LMT shares. Deutsche Bank Aktiengesellschaft increased their target price on Lockheed Martin from $487.00 to $540.00 and gave the stock a “hold” rating in a research note on Wednesday. UBS Group increased their target price on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research note on Thursday. TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and increased their price objective for the company from $480.00 to $560.00 in a research report on Wednesday. Finally, The Goldman Sachs Group dropped their price objective on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin currently has a consensus rating of “Hold” and an average target price of $513.45.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LMT. First Pacific Financial bought a new position in Lockheed Martin in the first quarter valued at about $25,000. Altshuler Shaham Ltd bought a new position in Lockheed Martin in the fourth quarter valued at about $26,000. Wiser Advisor Group LLC lifted its holdings in Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 25 shares during the period. Activest Wealth Management lifted its holdings in Lockheed Martin by 1,200.0% in the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 60 shares during the period. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Lockheed Martin in the first quarter valued at about $30,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

The firm has a 50 day moving average price of $467.28 and a 200 day moving average price of $452.98. The company has a quick ratio of 1.11, a current ratio of 1.30 and a debt-to-equity ratio of 2.89. The stock has a market cap of $125.16 billion, a P/E ratio of 19.11, a P/E/G ratio of 4.67 and a beta of 0.46.

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.