Lockheed Martin Co. (NYSE:LMT - Get Free Report)'s share price was down 0.2% during mid-day trading on Wednesday after Royal Bank of Canada lowered their price target on the stock from $675.00 to $665.00. Royal Bank of Canada currently has an outperform rating on the stock. Lockheed Martin traded as low as $575.86 and last traded at $575.86. Approximately 256,823 shares were traded during trading, a decline of 76% from the average daily volume of 1,049,084 shares. The stock had previously closed at $576.98.
A number of other analysts also recently commented on LMT. UBS Group boosted their price target on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a "neutral" rating in a research report on Wednesday. Bank of America reissued a "buy" rating and set a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. JPMorgan Chase & Co. upped their target price on Lockheed Martin from $560.00 to $630.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price target on Lockheed Martin from $600.00 to $620.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. Finally, TD Cowen upped their price objective on Lockheed Martin from $560.00 to $610.00 and gave the company a "buy" rating in a report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $606.71.
Read Our Latest Stock Analysis on Lockheed Martin
Hedge Funds Weigh In On Lockheed Martin
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Burkett Financial Services LLC acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at about $32,000. Mattson Financial Services LLC purchased a new stake in Lockheed Martin in the 2nd quarter worth approximately $27,000. Sachetta LLC boosted its stake in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company's stock valued at $28,000 after buying an additional 20 shares during the period. Wiser Advisor Group LLC grew its holdings 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 in the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in shares of Lockheed Martin in the first quarter worth $30,000. Institutional investors and hedge funds own 74.19% of the company's stock.
Lockheed Martin Trading Down 1.0 %
The firm has a market capitalization of $137.03 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The company has a fifty day moving average of $579.95 and a 200-day moving average of $513.50.
Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly 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. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 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 1.3% on a year-over-year basis. During the same period last year, the business earned $6.77 EPS. On average, sell-side analysts anticipate that Lockheed Martin Co. will post 26.68 earnings per share for the current fiscal 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 $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.31%. This is an increase from Lockheed Martin's previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin's payout ratio is currently 48.30%.
About Lockheed Martin
(
Get Free Report)
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.
Further Reading
Before you consider Lockheed Martin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lockheed Martin wasn't on the list.
While Lockheed Martin currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
