TD Cowen Boosts Lockheed Martin (NYSE:LMT) Price Target to $610.00

Lockheed Martin (NYSE:LMT - Free Report) had its target price upped by TD Cowen from $560.00 to $610.00 in a research report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the aerospace company's stock.

Several other research analysts have also recently commented on LMT. Bank of America reiterated a "buy" rating and issued a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. UBS Group raised their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a "neutral" rating in a research report on Wednesday. Susquehanna dropped their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a "positive" rating on the stock in a research report on Wednesday. Royal Bank of Canada raised their price objective on shares of Lockheed Martin from $600.00 to $675.00 and gave the stock an "outperform" rating in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of "Moderate Buy" and an average price target of $606.71.

Lockheed Martin Stock Performance

Shares of NYSE:LMT traded down $5.88 on Wednesday, reaching $571.10. 1,293,007 shares of the company's stock were exchanged, compared to its average volume of 1,054,155. The firm has a market capitalization of $137.03 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 4.84 and a beta of 0.47. Lockheed Martin has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The business's 50-day moving average is $579.95 and its two-hundred day moving average is $513.50. 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 issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts' consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $17.10 billion for the quarter, compared to analysts' expectations of $17.38 billion. During the same period in the prior year, the company earned $6.77 earnings per share. The firm's revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts forecast that Lockheed Martin will post 26.68 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. This is a positive change 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 2.31%. The ex-dividend date is Monday, December 2nd. Lockheed Martin's payout ratio is currently 48.30%.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors have recently added to or reduced their stakes in the business. Mattson Financial Services LLC bought a new stake in Lockheed Martin during the second quarter worth $27,000. Sachetta LLC lifted its holdings in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company's stock worth $28,000 after purchasing an additional 20 shares in the last quarter. Wiser Advisor Group LLC raised its holdings in shares of Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company's stock valued at $29,000 after acquiring an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Lockheed Martin in the 1st quarter valued at about $30,000. Finally, Stephens Consulting LLC raised its holdings in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company's stock valued at $31,000 after acquiring an additional 22 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

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.