Lockheed Martin (NYSE:LMT) Trading 0.7% Higher – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT)’s stock price shot up 0.7% during trading on Tuesday . The company traded as high as $539.32 and last traded at $534.45. 306,015 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 1,061,086 shares. The stock had previously closed at $530.96.

Analyst Ratings Changes

LMT has been the topic of several recent analyst reports. Citigroup boosted their target price on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 23rd. Susquehanna decreased their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday, October 23rd. Barclays raised their price objective on shares of Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Bank of America reaffirmed a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Performance

The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The stock has a fifty day moving average price of $574.19 and a two-hundred day moving average price of $526.27. The company has a market capitalization of $126.79 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 4.36 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating 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 firm 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 company posted $6.77 EPS. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $3.30 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.47%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s payout ratio is presently 45.62%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Itau Unibanco Holding S.A. acquired a new stake in Lockheed Martin in the 3rd quarter worth about $26,000. Mattson Financial Services LLC acquired a new position in Lockheed Martin during the second quarter worth approximately $27,000. Sachetta LLC raised its stake in Lockheed Martin by 50.0% during 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 boosted its holdings in shares of Lockheed Martin by 65.8% in the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares during the last quarter. Finally, Stephens Consulting LLC grew its stake in shares of Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after buying an additional 22 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

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.