Royal Bank of Canada Raises Lockheed Martin (NYSE:LMT) Price Target to $500.00

Lockheed Martin (NYSE:LMT) had its target price boosted by Royal Bank of Canada from $470.00 to $500.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a sector perform rating on the aerospace company’s stock.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company upped their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an equal weight rating in a research note on Wednesday. JPMorgan Chase & Co. upgraded Lockheed Martin from a neutral rating to an overweight rating and increased their price objective for the stock from $475.00 to $518.00 in a report on Monday, April 15th. Susquehanna boosted their target price on Lockheed Martin from $540.00 to $565.00 and gave the company a positive rating in a research note on Wednesday. UBS Group raised their price target on Lockheed Martin from $511.00 to $538.00 and gave the stock a neutral rating in a research note on Wednesday. Finally, The Goldman Sachs Group lowered their price target on Lockheed Martin from $380.00 to $377.00 and set a sell rating for the company in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $518.91.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $524.71 on Wednesday. Lockheed Martin has a 12 month low of $393.77 and a 12 month high of $528.64. The company has a quick ratio of 1.11, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. 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 business has a fifty day simple moving average of $469.59 and a 200-day simple moving average of $453.91.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The firm had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $6.73 EPS. On average, sell-side analysts anticipate that Lockheed Martin will post 26.43 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is 46.10%.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction 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 owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LMT. International Assets Investment Management LLC grew its stake in shares of Lockheed Martin by 10,526.6% in the fourth quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock worth $617,416,000 after acquiring an additional 1,349,409 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Lockheed Martin by 1,075.2% during the 1st quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock worth $218,841,000 after purchasing an additional 440,169 shares during the period. Franklin Resources Inc. raised its position in shares of Lockheed Martin by 14.9% during the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after buying an additional 336,588 shares during the last quarter. Confluence Investment Management LLC bought a new stake in shares of Lockheed Martin in the first quarter valued at about $151,402,000. Finally, Corient Private Wealth LLC grew its position in Lockheed Martin by 91.8% during the fourth quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock worth $260,169,000 after buying an additional 274,680 shares in the last quarter. 74.19% of the stock is owned by 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.