Lockheed Martin (NYSE:LMT) Price Target Raised to $675.00 at Royal Bank of Canada

Lockheed Martin (NYSE:LMT - Free Report) had its price objective raised by Royal Bank of Canada from $600.00 to $675.00 in a report published on Monday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the aerospace company's stock.

A number of other research analysts also recently issued reports on the company. TD Cowen raised Lockheed Martin from a hold rating to a buy rating and boosted their price target for the company from $480.00 to $560.00 in a report on Wednesday, July 24th. Bank of America reissued a buy rating and issued a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. Morgan Stanley boosted their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an equal weight rating in a report on Friday, August 9th. UBS Group boosted their price target on Lockheed Martin from $511.00 to $538.00 and gave the company a neutral rating in a report on Wednesday, July 24th. Finally, Susquehanna boosted their price objective on Lockheed Martin from $540.00 to $565.00 and gave the company a positive rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $568.31.

Lockheed Martin Stock Up 0.1 %

NYSE LMT traded up $0.44 during trading on Monday, hitting $605.57. The company's stock had a trading volume of 1,102,195 shares, compared to its average volume of 1,065,239. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The company has a market cap of $145.30 billion, a PE ratio of 22.16, a P/E/G ratio of 4.66 and a beta of 0.47. The business's 50 day simple moving average is $565.71 and its 200-day simple moving average is $500.06. Lockheed Martin has a fifty-two week low of $413.92 and a fifty-two week high of $611.59.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping analysts' consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter in the previous year, the company posted $6.73 earnings per share. The company's revenue was up 8.6% compared to the same quarter last year. On average, equities analysts anticipate that Lockheed Martin will post 26.65 EPS 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 paid a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This is an increase from Lockheed Martin's previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.18%. Lockheed Martin's dividend payout ratio (DPR) is 46.10%.

Insiders Place Their Bets

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the firm's stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares of the company's stock, valued at $4,574,850.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.17% of the company's stock.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds have recently modified their holdings of the business. HTLF Bank grew its holdings in shares of Lockheed Martin by 3.7% during the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company's stock worth $264,000 after purchasing an additional 20 shares during the period. tru Independence LLC boosted its holdings in Lockheed Martin by 2.5% during the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company's stock valued at $386,000 after acquiring an additional 20 shares during the period. Sachetta LLC boosted its holdings in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company's stock valued at $28,000 after acquiring an additional 20 shares during the period. Twin Lakes Capital Management LLC boosted its holdings in Lockheed Martin by 1.3% during the 2nd quarter. Twin Lakes Capital Management LLC now owns 1,527 shares of the aerospace company's stock valued at $713,000 after acquiring an additional 20 shares during the period. Finally, Goldstein Advisors LLC boosted its holdings in Lockheed Martin by 1.2% during the 2nd quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company's stock valued at $809,000 after acquiring an additional 21 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

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.