Lockheed Martin (NYSE:LMT) Price Target Raised to $610.00

Lockheed Martin (NYSE:LMT) had its price target upped by TD Cowen from $560.00 to $610.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the aerospace company’s stock.

LMT has been the topic of a number of other research reports. StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Bank of America reaffirmed a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. raised their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, UBS Group boosted their price target on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $606.71.

Lockheed Martin Trading Down 0.3 %

Shares of LMT opened at $562.29 on Wednesday. Lockheed Martin has a twelve month low of $413.92 and a twelve month high of $618.95. The company has a current ratio of 1.30, a quick ratio of 1.07 and a debt-to-equity ratio of 2.66. The company’s fifty day simple moving average is $580.07 and its 200-day simple moving average is $514.62. The company has a market cap of $134.03 billion, a P/E ratio of 20.36, a P/E/G ratio of 4.62 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data 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. The business had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $6.77 earnings per share. As a group, analysts expect that Lockheed Martin will post 26.65 EPS for the current year.

Lockheed Martin Increases Dividend

The business 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 dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.35%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is presently 45.62%.

Hedge Funds Weigh In On Lockheed Martin

A number of large investors have recently added to or reduced their stakes in the company. Stokes Family Office LLC purchased a new stake in Lockheed Martin during the first quarter valued at approximately $425,000. Wealthcare Advisory Partners LLC boosted its position in shares of Lockheed Martin by 15.4% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 9,681 shares of the aerospace company’s stock worth $4,404,000 after purchasing an additional 1,291 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Lockheed Martin by 9.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 132,611 shares of the aerospace company’s stock worth $60,321,000 after buying an additional 11,970 shares during the last quarter. Chesley Taft & Associates LLC increased its position in Lockheed Martin by 5.3% during the 1st quarter. Chesley Taft & Associates LLC now owns 2,001 shares of the aerospace company’s stock valued at $910,000 after buying an additional 100 shares in the last quarter. Finally, Thrive Wealth Management LLC raised its stake in Lockheed Martin by 1.1% in the first quarter. Thrive Wealth Management LLC now owns 3,736 shares of the aerospace company’s stock valued at $1,699,000 after buying an additional 39 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

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.