Lockheed Martin (NYSE:LMT) Price Target Raised to $626.00

Lockheed Martin (NYSE:LMT) had its target price raised by Robert W. Baird from $519.00 to $626.00 in a research report sent to investors on Tuesday.

Several other brokerages have also issued reports on LMT. Bank of America reiterated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. TD Cowen upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, October 8th. Susquehanna lifted their target price on shares of Lockheed Martin from $565.00 to $705.00 and gave the company a “positive” rating in a research report on Thursday, October 17th. Citigroup boosted their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company upped their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and a consensus price target of $599.93.

Lockheed Martin Stock Down 6.2 %

LMT stock opened at $576.72 on Tuesday. The firm has a market cap of $138.38 billion, a PE ratio of 21.10, a P/E/G ratio of 4.84 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The firm’s fifty day moving average is $579.79 and its 200 day moving average is $513.10. Lockheed Martin has a one year low of $413.92 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same quarter last year, the business earned $6.73 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. On average, research analysts forecast that Lockheed Martin will post 26.68 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed 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. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is presently 48.30%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Stokes Family Office LLC acquired a new stake in shares of Lockheed Martin in the 1st quarter worth $425,000. Gateway Investment Advisers LLC lifted its stake in shares of Lockheed Martin by 4.9% in the 1st quarter. Gateway Investment Advisers LLC now owns 5,446 shares of the aerospace company’s stock worth $2,477,000 after acquiring an additional 256 shares during the period. Annex Advisory Services LLC acquired a new stake in shares of Lockheed Martin in the 1st quarter worth $220,000. Columbus Macro LLC lifted its stake in shares of Lockheed Martin by 18.8% in the 1st quarter. Columbus Macro LLC now owns 2,023 shares of the aerospace company’s stock worth $922,000 after acquiring an additional 320 shares during the period. Finally, Thompson Investment Management Inc. acquired a new stake in shares of Lockheed Martin in the 1st quarter worth $38,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

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.