Lockheed Martin (NYSE:LMT) Stock Price Up 0.5% - Here's What Happened

Lockheed Martin Co. (NYSE:LMT - Get Free Report)'s share price shot up 0.5% during trading on Monday . The company traded as high as $618.95 and last traded at $614.60. 192,830 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 1,042,967 shares. The stock had previously closed at $611.81.

Analyst Ratings Changes

A number of research firms have commented on LMT. Wells Fargo & Company increased their price target on Lockheed Martin from $483.00 to $525.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 24th. Citigroup increased their price target on Lockheed Martin from $570.00 to $700.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Melius raised Lockheed Martin from a "hold" rating to a "buy" rating and set a $704.00 price objective on the stock in a report on Tuesday, September 3rd. Royal Bank of Canada increased their price objective on Lockheed Martin from $600.00 to $675.00 and gave the company an "outperform" rating in a report on Monday, October 7th. Finally, Morgan Stanley raised their target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an "equal weight" rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of "Moderate Buy" and an average price target of $597.92.

Lockheed Martin Stock Performance

The firm has a market cap of $147.49 billion, a PE ratio of 22.49, a P/E/G ratio of 4.84 and a beta of 0.47. The firm has a 50-day moving average price of $579.45 and a two-hundred day moving average price of $512.24. 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 released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.66. The business 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% compared to the same quarter last year. During the same quarter last year, the business posted $6.73 earnings per share. Research analysts forecast that Lockheed Martin Co. will post 26.68 EPS for the current fiscal 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 given a dividend of $3.30 per share. This is an increase from Lockheed Martin's previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.15%. Lockheed Martin's dividend payout ratio (DPR) is presently 48.30%.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction that occurred 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 owns 8,877 shares in the company, valued at approximately $4,574,850.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.17% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lockheed Martin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Foundations Investment Advisors LLC raised its position in Lockheed Martin by 6.1% in the third quarter. Foundations Investment Advisors LLC now owns 17,704 shares of the aerospace company's stock valued at $10,349,000 after purchasing an additional 1,015 shares during the period. Ledyard National Bank raised its position in Lockheed Martin by 2.3% in the third quarter. Ledyard National Bank now owns 5,274 shares of the aerospace company's stock valued at $3,083,000 after purchasing an additional 117 shares during the period. Roof Eidam Maycock Peralta LLC purchased a new stake in Lockheed Martin in the third quarter valued at $475,000. Raleigh Capital Management Inc. raised its position in Lockheed Martin by 18.5% in the third quarter. Raleigh Capital Management Inc. now owns 1,004 shares of the aerospace company's stock valued at $587,000 after purchasing an additional 157 shares during the period. Finally, Venture Visionary Partners LLC grew its stake in shares of Lockheed Martin by 2.5% in the third quarter. Venture Visionary Partners LLC now owns 14,981 shares of the aerospace company's stock valued at $8,759,000 after buying an additional 367 shares in the last quarter. Hedge funds and other 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.