Lockheed Martin (NYSE:LMT) Stock Price Up 0.2% - Still a Buy?

Lockheed Martin Co. (NYSE:LMT - Get Free Report)'s stock price shot up 0.2% on Tuesday . The stock traded as high as $487.87 and last traded at $487.44. 117,764 shares were traded during mid-day trading, a decline of 89% from the average session volume of 1,096,126 shares. The stock had previously closed at $486.49.

Analyst Ratings Changes

Several research firms have commented on LMT. StockNews.com upgraded shares of Lockheed Martin from a "buy" rating to a "strong-buy" rating in a report on Tuesday, December 17th. Robert W. Baird increased their target price on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Royal Bank of Canada cut their price target on Lockheed Martin from $675.00 to $665.00 and set an "outperform" rating on the stock in a research note 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 research report on Monday, October 14th. Finally, Citigroup raised their target price on Lockheed Martin from $570.00 to $700.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $612.29.

Lockheed Martin Trading Up 0.3 %

The business's 50-day moving average price is $538.54 and its 200-day moving average price is $533.84. The firm has a market capitalization of $115.71 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 4.05 and a beta of 0.46. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued 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. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same period last year, the firm posted $6.77 EPS. Lockheed Martin's revenue for the quarter was up 1.3% on a year-over-year basis. As a group, analysts expect that Lockheed Martin Co. will post 26.88 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.70%. This is a boost from Lockheed Martin's previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin's dividend payout ratio (DPR) is presently 47.79%.

Institutional Investors Weigh In On Lockheed Martin

Several hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC boosted its holdings in Lockheed Martin by 60,592.0% in 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 purchasing an additional 1,556,609 shares in the last quarter. Wulff Hansen & CO. lifted its holdings in shares of Lockheed Martin by 56,626.7% in the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company's stock valued at $476,947,000 after buying an additional 1,019,281 shares during the period. Los Angeles Capital Management LLC boosted its stake in shares of Lockheed Martin by 124.0% in the third quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company's stock valued at $263,561,000 after buying an additional 249,591 shares in the last quarter. Wellington Management Group LLP raised its position 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 acquiring an additional 240,306 shares in the last quarter. Finally, FMR LLC lifted its holdings in Lockheed Martin by 6.6% in the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company's stock valued at $1,981,088,000 after acquiring an additional 209,591 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

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.