Lockheed Martin (NYSE:LMT) Shares Up 0.9% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT)’s share price shot up 0.9% during mid-day trading on Thursday . The company traded as high as $446.17 and last traded at $445.38. 362,356 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 1,547,984 shares. The stock had previously closed at $441.50.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Citigroup cut their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. StockNews.com cut Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Truist Financial initiated coverage on Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target for the company. Susquehanna cut their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, January 29th. Finally, UBS Group decreased their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $553.67.

Lockheed Martin Stock Performance

The firm has a market capitalization of $105.07 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The stock has a 50-day moving average price of $467.23 and a 200-day moving average price of $526.63.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. On average, research analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.96%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Hedge Funds Weigh In On Lockheed Martin

Hedge funds have recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in shares of Lockheed Martin in the 3rd quarter valued at approximately $26,000. Millstone Evans Group LLC bought a new stake in Lockheed Martin during the fourth quarter valued at $32,000. Capital Performance Advisors LLP acquired a new stake in shares of Lockheed Martin during the third quarter worth $40,000. Mizuho Securities Co. Ltd. bought a new position in shares of Lockheed Martin in the 4th quarter worth about $34,000. Finally, Heck Capital Advisors LLC acquired a new stake in Lockheed Martin during the fourth quarter worth about $35,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

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.