Lockheed Martin (NYSE:LMT) Price Target Raised to $538.00

Lockheed Martin (NYSE:LMT) had its price objective raised by UBS Group from $511.00 to $538.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the aerospace company’s stock.

Several other research analysts also recently issued reports on the stock. TD Cowen upgraded shares of Lockheed Martin from a hold rating to a buy rating and upped their target price for the stock from $480.00 to $560.00 in a research note on Wednesday. Wells Fargo & Company upped their target price on shares of Lockheed Martin from $460.00 to $480.00 and gave the stock an equal weight rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Lockheed Martin from $467.00 to $487.00 and gave the stock a hold rating in a research note on Thursday, April 25th. The Goldman Sachs Group dropped their target price on shares of Lockheed Martin from $380.00 to $377.00 and set a sell rating on the stock in a research note on Tuesday, April 23rd. Finally, Susquehanna upped their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a positive rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $518.91.

Lockheed Martin Price Performance

Shares of LMT opened at $524.71 on Wednesday. The stock has a market cap of $125.07 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 4.86 and a beta of 0.46. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.11 and a current ratio of 1.24. Lockheed Martin has a fifty-two week low of $393.77 and a fifty-two week high of $528.64. The firm’s 50-day simple moving average is $469.59 and its two-hundred day simple moving average is $453.91.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The business had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.73 earnings per share. Analysts anticipate that Lockheed Martin will post 26.43 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared 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 of this dividend is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a yield of 2.40%. Lockheed Martin’s payout ratio is presently 46.10%.

Insiders Place Their Bets

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction that occurred on 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 directly owns 8,877 shares in the company, valued at $4,574,850.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. First Pacific Financial purchased a new stake in shares of Lockheed Martin in the first quarter worth $25,000. Altshuler Shaham Ltd purchased a new stake in shares of Lockheed Martin in the fourth quarter worth $26,000. Wiser Advisor Group LLC increased its stake in shares of Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares in the last quarter. Activest Wealth Management increased its stake in shares of Lockheed Martin by 1,200.0% in the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 60 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Lockheed Martin in the first quarter worth $30,000. 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.