Lockheed Martin (NYSE:LMT) Reaches New 52-Week High - What's Next?

Lockheed Martin Co. (NYSE:LMT - Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as $618.95 and last traded at $615.26, with a volume of 73680 shares changing hands. The stock had previously closed at $611.81.

Analyst Ratings Changes

A number of brokerages have issued reports on LMT. Susquehanna upped their price objective on shares of Lockheed Martin from $565.00 to $705.00 and gave the stock a "positive" rating in a research report on Thursday. TD Cowen raised Lockheed Martin to a "strong-buy" rating in a research report on Tuesday, October 8th. Melius Research upgraded Lockheed Martin to a "strong-buy" rating in a report on Tuesday, September 3rd. StockNews.com upgraded Lockheed Martin from a "buy" rating to a "strong-buy" rating in a research note on Thursday, October 10th. Finally, Bank of America reiterated a "buy" rating and set a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $597.92.

Lockheed Martin Trading Up 0.5 %

The firm's 50-day moving average price is $579.45 and its 200-day moving average price is $512.24. The company has a market cap of $147.49 billion, a P/E ratio of 22.49, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.66. The firm had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.73 earnings per share. As a group, equities research analysts expect that Lockheed Martin Co. will post 26.68 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin's previous quarterly dividend of $3.15. Lockheed Martin's payout ratio is presently 48.30%.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the business's stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the transaction, the insider now owns 8,877 shares of the company's stock, valued at approximately $4,574,850.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.17% of the company's stock.

Institutional Investors Weigh In On Lockheed Martin

Large investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. boosted its position 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 valued at $902,714,000 after acquiring an additional 31,545 shares during the last quarter. Legal & General Group Plc lifted its position in Lockheed Martin by 14.9% during the second quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company's stock valued at $646,828,000 after purchasing an additional 180,074 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Lockheed Martin by 11.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company's stock worth $546,144,000 after buying an additional 119,052 shares in the last quarter. Wulff Hansen & CO. increased 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 worth $476,947,000 after buying an additional 1,019,281 shares during the last quarter. Finally, Capital Research Global Investors raised its position in shares of Lockheed Martin by 29.7% during the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company's stock valued at $433,621,000 after buying an additional 218,506 shares in the last quarter. Institutional investors own 74.19% of the company's stock.

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.