Lockheed Martin (NYSE:LMT) Price Target Raised to $630.00

Lockheed Martin (NYSE:LMT) had its price target raised by JPMorgan Chase & Co. from $560.00 to $630.00 in a research report sent to investors on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the aerospace company’s stock.

LMT has been the topic of several other reports. Bank of America restated a buy rating and set a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. UBS Group raised their price objective on Lockheed Martin from $511.00 to $538.00 and gave the company a neutral rating in a research note on Wednesday, July 24th. StockNews.com raised Lockheed Martin from a buy rating to a strong-buy rating in a research report on Thursday, October 10th. Wells Fargo & Company raised their target price on Lockheed Martin from $483.00 to $525.00 and gave the company an equal weight rating in a research report on Wednesday, July 24th. Finally, Melius Research raised Lockheed Martin to a strong-buy rating in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $587.15.

Lockheed Martin Price Performance

Shares of LMT opened at $611.71 on Monday. 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 business’s fifty day moving average is $573.36 and its 200 day moving average is $506.67. Lockheed Martin has a 12-month low of $413.92 and a 12-month high of $611.99. The stock has a market cap of $146.77 billion, a P/E ratio of 22.38, a P/E/G ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data 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. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same period last year, the business earned $6.73 EPS. The business’s revenue was up 8.6% on a year-over-year basis. Sell-side analysts anticipate that Lockheed Martin will post 26.68 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is 48.30%.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction dated 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 completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of Lockheed Martin

A number of hedge funds have recently bought and sold shares of the company. Creative Planning lifted its position in Lockheed Martin by 3.1% in the 3rd quarter. Creative Planning now owns 106,301 shares of the aerospace company’s stock worth $62,139,000 after buying an additional 3,236 shares during the last quarter. CX Institutional lifted its position in Lockheed Martin by 24.9% in the 3rd quarter. CX Institutional now owns 19,185 shares of the aerospace company’s stock worth $11,215,000 after buying an additional 3,824 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in Lockheed Martin in the 3rd quarter worth approximately $58,621,000. Fiduciary Alliance LLC increased its stake in Lockheed Martin by 7.3% in the 3rd quarter. Fiduciary Alliance LLC now owns 16,195 shares of the aerospace company’s stock worth $9,467,000 after purchasing an additional 1,098 shares during the period. Finally, Boston Mountain Money Management Inc. boosted its stake in shares of Lockheed Martin by 8.7% during the third quarter. Boston Mountain Money Management Inc. now owns 675 shares of the aerospace company’s stock valued at $395,000 after purchasing an additional 54 shares during the period. 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.