Lockheed Martin (NYSE:LMT) Shares Up 0.5% – Here’s Why

Lockheed Martin Co. (NYSE:LMT) shares traded up 0.5% during mid-day trading on Monday . The company traded as high as $618.95 and last traded at $614.60. 192,830 shares were traded during mid-day trading, a decline of 82% from the average session volume of 1,042,967 shares. The stock had previously closed at $611.81.

Analyst Upgrades and Downgrades

LMT has been the topic of several recent research reports. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 10th. Susquehanna dropped their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday. Citigroup upped their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada decreased their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $606.71.

Lockheed Martin Stock Down 1.0 %

The company’s fifty day simple moving average is $579.79 and its 200 day simple moving average is $513.10. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The firm has a market capitalization of $137.03 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the prior year, the firm earned $6.77 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. Analysts anticipate that Lockheed Martin Co. will post 26.68 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.31%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is presently 48.30%.

Institutional Trading of Lockheed Martin

Large investors have recently modified their holdings of the company. Burkett Financial Services LLC bought a new position in Lockheed Martin in the third quarter worth approximately $32,000. Mattson Financial Services LLC bought a new stake in Lockheed Martin during the 2nd quarter worth approximately $27,000. Sachetta LLC boosted its position in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the period. 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. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in shares of Lockheed Martin during the 1st quarter valued at $30,000. Institutional investors 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.