Lockheed Martin (NYSE:LMT) Trading 0.1% Higher Following Analyst Upgrade

Lockheed Martin Co. (NYSE:LMT - Get Free Report)'s stock price was up 0.1% during trading on Thursday after TD Cowen raised their price target on the stock from $560.00 to $610.00. TD Cowen currently has a buy rating on the stock. Lockheed Martin traded as high as $573.93 and last traded at $571.77. Approximately 249,125 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 1,050,761 shares. The stock had previously closed at $571.10.

Several other equities analysts also recently issued reports on LMT. Bank of America restated a "buy" rating and issued a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. Barclays raised their price target on Lockheed Martin from $480.00 to $505.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 30th. Wells Fargo & Company increased their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an "equal weight" rating in a report on Wednesday, July 24th. Royal Bank of Canada raised their target price on shares of Lockheed Martin from $600.00 to $675.00 and gave the stock an "outperform" rating in a research report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Lockheed Martin has an average rating of "Moderate Buy" and an average price target of $606.71.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in LMT. Mattson Financial Services LLC acquired a new stake in Lockheed Martin in the second quarter valued at $27,000. Sachetta LLC increased its holdings in Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company's stock valued at $28,000 after buying an additional 20 shares in the last quarter. Wiser Advisor Group LLC lifted its position in shares of Lockheed Martin by 65.8% during 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 during the period. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Lockheed Martin during the 1st quarter valued at approximately $30,000. Finally, Stephens Consulting LLC boosted its stake in shares of Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company's stock worth $31,000 after acquiring an additional 22 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Down 1.2 %

The firm has a 50 day moving average of $579.95 and a two-hundred day moving average of $513.50. The stock has a market capitalization of $135.38 billion, a PE ratio of 20.64, a P/E/G ratio of 4.84 and a beta of 0.47. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts' consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business had revenue of $17.10 billion during the quarter, compared to analysts' expectations of $17.38 billion. During the same quarter last year, the business posted $6.77 earnings per share. The business's revenue for the quarter was up 1.3% on a year-over-year basis. Equities research analysts anticipate that Lockheed Martin Co. will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.34%. This is a boost from Lockheed Martin's previous quarterly dividend of $3.15. Lockheed Martin's payout ratio is presently 48.30%.

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.