UBS Group Increases Lockheed Martin (NYSE:LMT) Price Target to $538.00

Lockheed Martin (NYSE:LMT) had its target price hoisted by UBS Group from $511.00 to $538.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the aerospace company’s stock.

LMT has been the topic of several other research reports. StockNews.com upgraded shares of Lockheed Martin from a buy rating to a strong-buy rating in a report on Thursday, April 25th. Citigroup raised 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. The Goldman Sachs Group dropped their target price 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. JPMorgan Chase & Co. upgraded shares of Lockheed Martin from a neutral rating to an overweight rating and lifted their price target for the stock from $475.00 to $518.00 in a research note on Monday, April 15th. Finally, Susquehanna lifted their price target on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a positive rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of Moderate Buy and a consensus price target of $518.91.

Lockheed Martin Trading Up 0.7 %

NYSE:LMT opened at $524.80 on Wednesday. The company’s 50 day moving average price is $469.59 and its 200-day moving average price is $453.90. Lockheed Martin has a 52 week low of $393.77 and a 52 week high of $528.64. The company has a quick ratio of 1.11, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The stock has a market cap of $125.09 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 4.86 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter last year, the company posted $6.73 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities research analysts forecast that Lockheed Martin will post 26.43 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.40%. Lockheed Martin’s payout ratio is 46.10%.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.17% of the company’s stock.

Institutional Trading of Lockheed Martin

A number of institutional investors and hedge funds have recently bought and sold shares of LMT. First Pacific Financial bought a new stake in Lockheed Martin in the 1st quarter valued at $25,000. Altshuler Shaham Ltd bought a new stake in Lockheed Martin in the 4th quarter valued at $26,000. Wiser Advisor Group LLC increased its holdings in Lockheed Martin by 65.8% in the 1st 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 last quarter. Activest Wealth Management increased its holdings in Lockheed Martin by 1,200.0% in the 4th 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 last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in Lockheed Martin in the 1st quarter valued at $30,000. 74.19% of the stock is currently owned by institutional investors.

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.