Morgan Stanley Raises Lockheed Martin (NYSE:LMT) Price Target to $599.00

Lockheed Martin (NYSE:LMT) had its price target lifted by Morgan Stanley from $503.00 to $599.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an equal weight rating on the aerospace company’s stock.

Several other brokerages also recently issued reports on LMT. Barclays upped their price target on Lockheed Martin from $480.00 to $505.00 and gave the stock an equal weight rating in a report on Tuesday, July 30th. Bank of America upgraded shares of Lockheed Martin from a neutral rating to a buy rating and increased their target price for the company from $465.00 to $635.00 in a report on Wednesday, July 31st. UBS Group boosted their price target on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a neutral rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Lockheed Martin from a hold rating to a buy rating and increased their price objective for the company from $540.00 to $600.00 in a research note on Friday, July 26th. Finally, Susquehanna boosted their target price on Lockheed Martin from $540.00 to $565.00 and gave the stock a positive rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin has an average rating of Moderate Buy and an average target price of $541.85.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $556.75 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The firm has a fifty day simple moving average of $487.25 and a two-hundred day simple moving average of $461.12. Lockheed Martin has a 12 month low of $393.77 and a 12 month high of $562.60. The firm has a market capitalization of $133.59 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 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 during the quarter, compared to the consensus estimate of $17.05 billion. During the same period in the previous year, the firm posted $6.73 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Analysts forecast that Lockheed Martin will post 26.71 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced 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 of this dividend is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.26%. Lockheed Martin’s payout ratio is presently 46.10%.

Insider Transactions at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. HTLF Bank raised its stake in shares of Lockheed Martin by 3.7% during the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after purchasing an additional 20 shares during the period. tru Independence LLC increased its position in shares of Lockheed Martin by 2.5% during the second quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after buying an additional 20 shares during the period. Sachetta LLC lifted its holdings in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares in the last quarter. Goldstein Advisors LLC boosted its position in shares of Lockheed Martin by 1.2% in the second quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock valued at $809,000 after acquiring an additional 21 shares during the period. Finally, Hudock Inc. grew its stake in Lockheed Martin by 1.3% during the first quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock valued at $801,000 after acquiring an additional 22 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other 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.