Lockheed Martin (NYSE:LMT) Trading Up 1.4%

Shares of Lockheed Martin Co. (NYSE:LMT - Get Free Report) were up 1.4% on Monday . The stock traded as high as $575.21 and last traded at $574.80. Approximately 171,722 shares traded hands during trading, a decline of 84% from the average daily volume of 1,064,436 shares. The stock had previously closed at $566.63.

Analyst Ratings Changes

LMT has been the subject of a number of recent analyst reports. Bank of America restated a "buy" rating and issued a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. TD Cowen raised Lockheed Martin from a "hold" rating to a "buy" rating and increased their target price for the stock from $480.00 to $560.00 in a research report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on Lockheed Martin from $518.00 to $560.00 and gave the stock an "overweight" rating in a report on Thursday, July 25th. Royal Bank of Canada upgraded Lockheed Martin from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $500.00 to $600.00 in a report on Monday, August 5th. Finally, Susquehanna raised their price target on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a "positive" rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin presently has a consensus rating of "Moderate Buy" and a consensus price target of $553.43.

Lockheed Martin Stock Up 1.8 %

The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The firm has a 50 day moving average price of $526.54 and a two-hundred day moving average price of $480.36. The company has a market capitalization of $137.43 billion, a price-to-earnings ratio of 21.10, a P/E/G ratio of 4.55 and a beta of 0.47.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data 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 company 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%. Lockheed Martin's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $6.73 EPS. As a group, sell-side analysts expect that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be issued a $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin's dividend payout ratio is presently 46.10%.

Insider Activity

In other 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 transaction of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares of the company's stock, valued at $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.17% of the company's stock.

Institutional Investors Weigh In On Lockheed Martin

A number of institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new stake in shares of Lockheed Martin in the second quarter valued at $24,001,000. Strategic Investment Solutions Inc. IL acquired a new stake in Lockheed Martin in the 2nd quarter valued at about $201,000. New Century Financial Group LLC boosted its position in shares of Lockheed Martin by 179.6% during the 2nd quarter. New Century Financial Group LLC now owns 1,258 shares of the aerospace company's stock valued at $588,000 after purchasing an additional 808 shares in the last quarter. 3Chopt Investment Partners LLC bought a new stake in shares of Lockheed Martin in the 2nd quarter worth approximately $1,097,000. Finally, Truist Financial Corp boosted its holdings in Lockheed Martin by 0.5% during the second quarter. Truist Financial Corp now owns 266,352 shares of the aerospace company's stock worth $124,413,000 after buying an additional 1,315 shares in the last quarter. 74.19% of the stock is currently 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.