Lockheed Martin (NYSE:LMT) Trading 0.8% Higher – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT)’s share price rose 0.8% during trading on Thursday . The stock traded as high as $529.99 and last traded at $525.75. Approximately 890,394 shares changed hands during trading, a decline of 17% from the average daily volume of 1,077,345 shares. The stock had previously closed at $521.45.

Analyst Ratings Changes

A number of analysts have weighed in on LMT shares. StockNews.com cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. TD Cowen boosted their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a report on Tuesday, September 3rd. Royal Bank of Canada reduced their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Up 0.8 %

The firm has a 50 day moving average of $570.39 and a 200-day moving average of $528.52. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The stock has a market capitalization of $124.62 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 4.27 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the previous year, the business posted $6.77 earnings per share. Lockheed Martin’s quarterly revenue was up 1.3% on a year-over-year basis. On average, equities research analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s payout ratio is 45.62%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Synovus Financial Corp raised its holdings in shares of Lockheed Martin by 4.2% in the 3rd quarter. Synovus Financial Corp now owns 63,602 shares of the aerospace company’s stock worth $37,181,000 after buying an additional 2,558 shares in the last quarter. Tidal Investments LLC grew its position in Lockheed Martin by 106.0% in the third quarter. Tidal Investments LLC now owns 25,878 shares of the aerospace company’s stock valued at $15,127,000 after acquiring an additional 13,315 shares during the period. Blankinship & Foster LLC bought a new position in shares of Lockheed Martin during the third quarter valued at $11,466,000. Wilmington Savings Fund Society FSB boosted its stake in shares of Lockheed Martin by 194.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 7,419 shares of the aerospace company’s stock valued at $4,337,000 after purchasing an additional 4,902 shares in the last quarter. Finally, Arvest Bank Trust Division bought a new stake in shares of Lockheed Martin in the 3rd quarter worth about $3,116,000. Institutional investors 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.