Lockheed Martin (NYSE:LMT) Trading 2.2% Higher - Here's What Happened

Lockheed Martin Co. (NYSE:LMT - Get Free Report)'s share price traded up 2.2% during mid-day trading on Tuesday . The stock traded as high as $448.65 and last traded at $450.10. 302,724 shares were traded during trading, a decline of 80% from the average session volume of 1,543,915 shares. The stock had previously closed at $440.27.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Susquehanna decreased their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a "positive" rating on the stock in a report on Wednesday, January 29th. Morgan Stanley cut their target price on shares of Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 29th. Truist Financial began coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a "buy" rating and a $579.00 price target on the stock. Wells Fargo & Company dropped their price target on Lockheed Martin from $497.00 to $468.00 and set an "equal weight" rating for the company in a research note on Wednesday. Finally, Citigroup reduced their price objective on Lockheed Martin from $700.00 to $600.00 and set a "buy" rating on the stock in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $553.67.

Lockheed Martin Price Performance

The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The firm has a market cap of $105.97 billion, a P/E ratio of 20.22, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. The business has a 50-day simple moving average of $465.79 and a 200 day simple moving average of $525.34.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping 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, analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Monday, March 3rd. Lockheed Martin's dividend payout ratio is currently 59.30%.

Institutional Trading of Lockheed Martin

Several large investors have recently bought and sold shares of the company. Lmcg Investments LLC boosted its position in shares of Lockheed Martin by 3.0% during the third quarter. Lmcg Investments LLC now owns 651 shares of the aerospace company's stock valued at $381,000 after purchasing an additional 19 shares in the last quarter. Klingman & Associates LLC boosted its holdings in shares of Lockheed Martin by 1.1% during the 3rd quarter. Klingman & Associates LLC now owns 1,729 shares of the aerospace company's stock valued at $1,011,000 after buying an additional 19 shares in the last quarter. Platform Technology Partners boosted its holdings in shares of Lockheed Martin by 0.5% during the 3rd quarter. Platform Technology Partners now owns 4,122 shares of the aerospace company's stock valued at $2,409,000 after buying an additional 19 shares in the last quarter. Assetmark Inc. grew its position in shares of Lockheed Martin by 1.3% in the 3rd quarter. Assetmark Inc. now owns 1,470 shares of the aerospace company's stock worth $859,000 after buying an additional 19 shares during the period. Finally, Vinva Investment Management Ltd increased its stake in shares of Lockheed Martin by 3.0% in the 3rd quarter. Vinva Investment Management Ltd now owns 656 shares of the aerospace company's stock worth $382,000 after acquiring an additional 19 shares in the last quarter. 74.19% of the stock is owned by 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.