Lockheed Martin (NYSE:LMT) Stock Price Up 0.2%

Lockheed Martin Co. (NYSE:LMT) shot up 0.2% during mid-day trading on Wednesday . The company traded as high as $583.75 and last traded at $580.07. 134,659 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 1,060,780 shares. The stock had previously closed at $578.63.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Royal Bank of Canada raised Lockheed Martin from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $500.00 to $600.00 in a research report on Monday, August 5th. TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and lifted their price target for the company from $480.00 to $560.00 in a report on Wednesday, July 24th. Barclays lifted their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Morgan Stanley upped their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $553.43.

Lockheed Martin Trading Down 0.2 %

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 stock has a fifty day moving average of $550.14 and a 200 day moving average of $491.21. The company has a market capitalization of $137.61 billion, a PE ratio of 21.22, a PEG ratio of 4.66 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data 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 return on equity of 95.03% and a net margin of 9.48%. The company had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter in the prior year, the company posted $6.73 EPS. Lockheed Martin’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts predict that Lockheed Martin Co. will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is currently 46.10%.

Insider Activity 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 stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lockheed Martin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. increased its holdings in Lockheed Martin by 1.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after purchasing an additional 31,545 shares during the period. Legal & General Group Plc lifted its position in Lockheed Martin by 14.9% during the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock worth $646,828,000 after acquiring an additional 180,074 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Lockheed Martin by 11.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock worth $546,144,000 after buying an additional 119,052 shares in the last quarter. Wulff Hansen & CO. increased its stake in Lockheed Martin by 56,626.7% in the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after purchasing an additional 1,019,281 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in Lockheed Martin by 29.7% in the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after purchasing an additional 218,506 shares in 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.