Lockheed Martin (NYSE:LMT) Hits New 52-Week High at $583.00

Lockheed Martin Co. (NYSE:LMT)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $583.00 and last traded at $580.51, with a volume of 23315 shares changing hands. The stock had previously closed at $578.63.

Wall Street Analysts Forecast Growth

LMT has been the topic of several recent research reports. Susquehanna lifted their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $500.00 to $600.00 in a report on Monday, August 5th. JPMorgan Chase & Co. increased their price objective on Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Barclays lifted their target price on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, Bank of America reissued a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $553.43.

Lockheed Martin Stock Up 0.3 %

The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The stock’s 50-day moving average price is $550.14 and its 200-day moving average price is $491.21. The company has a market cap of $138.28 billion, a P/E ratio of 21.17, a PEG ratio of 4.66 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $17.05 billion. During the same quarter in the prior year, the company earned $6.73 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, research analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is currently 46.10%.

Insider Buying and Selling at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds have recently bought and sold shares of LMT. HTLF Bank lifted its position in shares of Lockheed Martin by 3.7% during the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after purchasing an additional 20 shares in the last quarter. tru Independence LLC increased its stake in 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 last quarter. Sachetta LLC increased its stake in Lockheed Martin by 50.0% in 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 last quarter. Twin Lakes Capital Management LLC boosted its stake in shares of Lockheed Martin by 1.3% in the 2nd quarter. Twin Lakes Capital Management LLC now owns 1,527 shares of the aerospace company’s stock worth $713,000 after buying an additional 20 shares during the last quarter. Finally, Goldstein Advisors LLC boosted its stake in shares of Lockheed Martin by 1.2% in the 2nd quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock worth $809,000 after buying an additional 21 shares during the last quarter. 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.