Lockheed Martin Co. (NYSE:LMT - Get Free Report) traded up 0.6% during trading on Thursday . The company traded as high as $491.76 and last traded at $491.17. 160,725 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,093,384 shares. The stock had previously closed at $488.13.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on LMT shares. Melius raised shares of 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 lowered their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 23rd. Susquehanna cut their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a "positive" rating for the company in a research note on Wednesday, October 23rd. TD Cowen upped their price objective on Lockheed Martin from $560.00 to $610.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Finally, Bank of America restated a "buy" rating and set a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. One equities 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $612.29.
Check Out Our Latest Report on LMT
Lockheed Martin Price Performance
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 company has a 50-day moving average of $533.71 and a 200-day moving average of $533.64. The firm has a market capitalization of $116.14 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 4.05 and a beta of 0.46.
Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. The firm 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 business's quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.77 EPS. As a group, research analysts anticipate that Lockheed Martin Co. will post 26.88 EPS for the current fiscal year.
Lockheed Martin Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $3.30 dividend. This is a boost from Lockheed Martin's previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.69%. Lockheed Martin's payout ratio is presently 47.79%.
Institutional Investors Weigh In On Lockheed Martin
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in shares of Lockheed Martin by 1.8% during 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 stake in shares of Lockheed Martin by 6.6% during the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company's stock worth $1,981,088,000 after purchasing an additional 209,591 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Lockheed Martin by 8.5% during the 3rd 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 in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Lockheed Martin by 1.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company's stock worth $902,714,000 after purchasing an additional 31,545 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake 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 worth $911,433,000 after purchasing an additional 1,556,609 shares in the last quarter. Institutional investors own 74.19% of the company's stock.
About Lockheed Martin
(
Get Free Report)
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.
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