Lockheed Martin (NYSE:LMT) Shares Up 0.4%

Shares of Lockheed Martin Co. (NYSE:LMT) shot up 0.4% on Thursday . The stock traded as high as $556.42 and last traded at $556.11. 142,100 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 1,076,241 shares. The stock had previously closed at $553.76.

Wall Street Analysts Forecast Growth

LMT has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Barclays increased their price target on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. upped their target price on Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and raised their price target for the stock from $480.00 to $560.00 in a research report on Wednesday, July 24th. Finally, Bank of America upgraded shares of Lockheed Martin from a “neutral” rating to a “buy” rating and increased their price objective for the company from $465.00 to $635.00 in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $541.85.

Lockheed Martin Stock Performance

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 firm has a market capitalization of $133.17 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 4.40 and a beta of 0.46. The company has a 50-day moving average price of $504.16 and a 200-day moving average price of $468.79.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping 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 business had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter in the prior year, the company posted $6.73 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts forecast that Lockheed Martin Co. will post 26.71 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be given a $3.15 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.27%. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s 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 transaction, the insider now owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LMT. HTLF Bank raised its position in Lockheed Martin by 3.7% in the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock worth $264,000 after purchasing an additional 20 shares during the last quarter. tru Independence LLC increased its stake in shares of Lockheed Martin by 2.5% in the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after buying an additional 20 shares during the period. Sachetta LLC raised its position in shares of Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares during the last quarter. Twin Lakes Capital Management LLC lifted its stake in shares of Lockheed Martin by 1.3% during the second quarter. Twin Lakes Capital Management LLC now owns 1,527 shares of the aerospace company’s stock valued at $713,000 after acquiring an additional 20 shares during the period. Finally, Goldstein Advisors LLC boosted its holdings in Lockheed Martin by 1.2% in the second quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock valued at $809,000 after acquiring an additional 21 shares during the last quarter. Institutional investors and hedge funds 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.