Lockheed Martin (NYSE:LMT) PT Lowered to $665.00 at Royal Bank of Canada

Lockheed Martin (NYSE:LMT) had its price objective lowered by Royal Bank of Canada from $675.00 to $665.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the aerospace company’s stock.

Other analysts have also recently issued research reports about the company. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research report on Tuesday, September 3rd. Citigroup increased their price objective on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, TD Cowen increased their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average target price of $606.71.

Lockheed Martin Price Performance

LMT stock opened at $562.29 on Wednesday. The stock has a market cap of $134.03 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 4.62 and a beta of 0.47. Lockheed Martin has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The company has a quick ratio of 1.07, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The business has a 50 day moving average price of $580.07 and a 200 day moving average price of $514.62.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data 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 net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the previous year, the firm earned $6.77 EPS. The company’s revenue was up 1.3% compared to the same quarter last year. Equities research analysts anticipate that Lockheed Martin will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 45.62%.

Institutional Trading of Lockheed Martin

Several hedge funds have recently modified their holdings of LMT. International Assets Investment Management LLC raised its position in Lockheed Martin by 60,592.0% in the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after acquiring an additional 1,556,609 shares in the last quarter. Wulff Hansen & CO. grew its stake in shares of Lockheed Martin by 56,626.7% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after purchasing an additional 1,019,281 shares during the period. Van ECK Associates Corp increased its holdings in shares of Lockheed Martin by 1,075.2% in the 1st quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock valued at $218,841,000 after purchasing an additional 440,169 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Lockheed Martin by 29.7% in the first 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 during the period. Finally, National Bank of Canada FI boosted its holdings in Lockheed Martin by 219.3% during the first quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock worth $149,138,000 after buying an additional 218,466 shares in 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.