Lockheed Martin (NYSE:LMT) Stock Price Up 0.4%

Lockheed Martin Co. (NYSE:LMT - Get Free Report) shares were up 0.4% on Monday . The stock traded as high as $576.49 and last traded at $572.35. Approximately 103,149 shares changed hands during trading, a decline of 90% from the average daily volume of 1,055,376 shares. The stock had previously closed at $569.91.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Morgan Stanley raised their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an "equal weight" rating in a report on Friday, August 9th. TD Cowen raised Lockheed Martin from a "hold" rating to a "buy" rating and boosted their price target for the stock from $480.00 to $560.00 in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a "hold" rating to a "buy" rating and raised their price objective for the company from $540.00 to $600.00 in a research note on Friday, July 26th. Melius Research raised Lockheed Martin to a "strong-buy" rating in a research note on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an "overweight" rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin presently has an average rating of "Moderate Buy" and a consensus price target of $553.43.

Lockheed Martin Trading Up 0.5 %

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 company has a market capitalization of $136.56 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. The stock's fifty day moving average price is $537.11 and its two-hundred day moving average price is $485.28.

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, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $17.05 billion. During the same period in the previous year, the firm earned $6.73 earnings per share. The business's revenue was up 8.6% compared to the same quarter last year. Sell-side analysts anticipate that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin's payout ratio is 46.10%.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the firm's stock in a transaction dated Wednesday, July 24th. The shares were 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 in the company, valued at $4,574,850.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lockheed Martin

A number of institutional investors have recently added to or reduced their stakes in LMT. Wulff Hansen & CO. lifted its position in Lockheed Martin by 56,626.7% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company's stock valued at $476,947,000 after acquiring an additional 1,019,281 shares during the period. Van ECK Associates Corp boosted its position in shares of Lockheed Martin by 1,075.2% in the 1st quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company's stock worth $218,841,000 after purchasing an additional 440,169 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Lockheed Martin by 14.9% in the 4th quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company's stock worth $1,173,641,000 after purchasing an additional 336,588 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in shares of Lockheed Martin in the 1st quarter worth approximately $151,402,000. Finally, Corient Private Wealth LLC increased its position in Lockheed Martin by 91.8% during the 4th quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company's stock valued at $260,169,000 after buying an additional 274,680 shares in the last quarter. Institutional investors own 74.19% of the company's stock.

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.