Lockheed Martin (NYSE:LMT) Upgraded by TD Cowen to Buy

TD Cowen upgraded shares of Lockheed Martin (NYSE:LMT) from a hold rating to a buy rating in a report issued on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has $560.00 price target on the aerospace company’s stock, up from their prior price target of $480.00.

A number of other analysts also recently commented on LMT. UBS Group boosted their target price on shares of Lockheed Martin from $482.00 to $499.00 and gave the stock a neutral rating in a report on Wednesday, April 24th. StockNews.com upgraded shares of Lockheed Martin from a buy rating to a strong-buy rating in a report on Thursday, April 25th. Citigroup boosted their target price on shares of Lockheed Martin from $508.00 to $525.00 and gave the stock a buy rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. upgraded shares of Lockheed Martin from a neutral rating to an overweight rating and boosted their price target for the company from $475.00 to $518.00 in a report on Monday, April 15th. Finally, The Goldman Sachs Group cut their price target 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 assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $518.91.

Lockheed Martin Trading Up 0.7 %

Shares of NYSE:LMT opened at $524.80 on Wednesday. The company has a 50 day moving average of $469.59 and a 200-day moving average of $453.90. The firm has a market cap of $125.09 billion, a P/E ratio of 19.20, a P/E/G ratio of 4.86 and a beta of 0.46. Lockheed Martin has a twelve month low of $393.77 and a twelve month high of $528.64. 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 (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 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 business had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. During the same period in the previous year, the firm earned $6.73 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, analysts anticipate that Lockheed Martin will post 26.43 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders 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 annualized dividend and a yield of 2.40%. Lockheed Martin’s dividend payout ratio is presently 46.10%.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. First Pacific Financial bought a new stake in Lockheed Martin in the first quarter worth approximately $25,000. Altshuler Shaham Ltd bought a new stake in Lockheed Martin in the fourth quarter worth approximately $26,000. Wiser Advisor Group LLC grew its position in Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 25 shares in the last quarter. Activest Wealth Management grew its position in Lockheed Martin by 1,200.0% in the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 60 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in Lockheed Martin in the first quarter worth approximately $30,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

About Lockheed Martin

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.