Lockheed Martin (NYSE:LMT) Trading Up 0.3% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT)’s share price was up 0.3% during mid-day trading on Wednesday . The stock traded as high as $488.73 and last traded at $488.13. Approximately 375,892 shares changed hands during trading, a decline of 66% from the average daily volume of 1,097,260 shares. The stock had previously closed at $486.49.

Wall Street Analyst Weigh In

LMT has been the subject of a number of research analyst reports. UBS Group lifted their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price objective on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. TD Cowen boosted their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research report on Tuesday, September 3rd. Finally, Bank of America restated a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $612.29.

Lockheed Martin Stock Performance

The company has a 50-day simple moving average of $536.20 and a two-hundred day simple moving average of $533.96. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The firm has a market capitalization of $115.71 billion, a P/E ratio of 17.67, a PEG ratio of 4.05 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $6.77 earnings per share. As a group, equities analysts forecast that Lockheed Martin Co. will post 26.88 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared 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. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is 47.79%.

Hedge Funds Weigh In On Lockheed Martin

Several large investors have recently made changes to their positions in LMT. Geode Capital Management LLC boosted its stake in Lockheed Martin by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock worth $2,816,898,000 after purchasing an additional 83,997 shares in the last quarter. FMR LLC raised its holdings in shares of Lockheed Martin by 6.6% during the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after purchasing an additional 209,591 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Lockheed Martin by 8.5% in the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after purchasing an additional 240,306 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Lockheed Martin by 1.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after buying an additional 31,545 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Lockheed Martin by 60,592.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after buying an additional 1,556,609 shares during the period. 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.