Lockheed Martin (NYSE:LMT) Upgraded to Strong-Buy at Melius Research

Melius Research upgraded shares of Lockheed Martin (NYSE:LMT) to a strong-buy rating in a research note released on Tuesday morning, Zacks.com reports.

A number of other equities analysts have also weighed in on LMT. Royal Bank of Canada upgraded Lockheed Martin from a sector perform rating to an outperform rating and increased their target price for the stock from $500.00 to $600.00 in a research note on Monday, August 5th. TD Cowen raised Lockheed Martin from a hold rating to a buy rating and lifted their target price for the stock from $480.00 to $560.00 in a report on Wednesday, July 24th. Bank of America restated a buy rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. Barclays upped their price objective on Lockheed Martin from $480.00 to $505.00 and gave the company an equal weight rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an overweight rating in a report on Thursday, July 25th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $553.43.

Lockheed Martin Stock Performance

Shares of NYSE LMT opened at $566.82 on Tuesday. Lockheed Martin has a 12 month low of $393.77 and a 12 month high of $578.73. The stock has a 50 day moving average of $524.33 and a 200-day moving average of $478.58. 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 company has a market capitalization of $136.00 billion, a P/E ratio of 20.74, a P/E/G ratio of 4.56 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $6.73 earnings per share. As a group, equities research analysts predict that Lockheed Martin will post 26.65 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.22%. Lockheed Martin’s payout ratio is 46.10%.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.17% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LMT. HTLF Bank grew its position in Lockheed Martin by 3.7% in the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after purchasing an additional 20 shares during the period. tru Independence LLC grew its holdings in shares of Lockheed Martin by 2.5% during the second 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 grew its holdings in shares of Lockheed Martin by 50.0% during the second 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 increased its position 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 worth $713,000 after acquiring an additional 20 shares in the last quarter. Finally, Goldstein Advisors LLC raised its holdings 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 acquiring an additional 21 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

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.