Lockheed Martin (NYSE:LMT) Trading 0.2% Higher – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT) was up 0.2% during trading on Friday . The stock traded as high as $493.40 and last traded at $490.75. Approximately 205,298 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 1,091,841 shares. The stock had previously closed at $489.98.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LMT shares. Susquehanna decreased their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research note on Wednesday, October 23rd. Robert W. Baird raised their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price target on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $612.29.

Lockheed Martin Stock Performance

The stock has a market cap of $115.90 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 4.05 and a beta of 0.46. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The stock has a 50 day simple moving average of $528.86 and a 200 day simple moving average of $533.99.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The business 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 101.44% and a net margin of 9.36%. Lockheed Martin’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.77 earnings per share. On average, equities analysts expect that Lockheed Martin Co. will post 26.88 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 2nd were paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.70%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend was Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is 47.79%.

Institutional Investors Weigh In On Lockheed Martin

Several institutional investors and hedge funds have recently added to or reduced their stakes in LMT. Itau Unibanco Holding S.A. bought a new stake in shares of Lockheed Martin during the 3rd quarter worth $26,000. Mattson Financial Services LLC bought a new stake in shares of Lockheed Martin during the 2nd quarter valued at approximately $27,000. Sachetta LLC increased its position in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares in the last quarter. Burkett Financial Services LLC bought a new position in Lockheed Martin in the 3rd quarter valued at approximately $32,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Lockheed Martin in the 3rd quarter valued at $40,000. 74.19% of the stock is currently owned by institutional investors.

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.