Lockheed Martin (NYSE:LMT) Shares Up 0% – Here’s What Happened

Shares of Lockheed Martin Co. (NYSE:LMT) rose 0% during trading on Friday . The company traded as high as $545.71 and last traded at $542.23. Approximately 241,106 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 1,061,104 shares. The stock had previously closed at $542.01.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LMT. Barclays upped their price objective on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Bank of America reiterated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a research report on Tuesday, September 3rd. Royal Bank of Canada cut their target price on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Melius Research raised Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Trading Up 0.1 %

The firm has a market cap of $128.54 billion, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 4.36 and a beta of 0.49. The business’s fifty day moving average is $573.68 and its 200-day moving average is $526.39. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $6.77 EPS. Analysts predict that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.43%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is presently 47.79%.

Institutional Trading of Lockheed Martin

Several hedge funds have recently bought and sold shares of LMT. Canada Pension Plan Investment Board lifted its stake in Lockheed Martin by 7.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 324,493 shares of the aerospace company’s stock valued at $147,602,000 after acquiring an additional 22,293 shares in the last quarter. Stonebridge Capital Advisors LLC raised its stake in shares of Lockheed Martin by 9.3% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 714 shares of the aerospace company’s stock worth $325,000 after purchasing an additional 61 shares during the period. Gabelli Funds LLC raised its stake in shares of Lockheed Martin by 7.3% during the 1st quarter. Gabelli Funds LLC now owns 7,350 shares of the aerospace company’s stock worth $3,343,000 after purchasing an additional 500 shares during the period. 1832 Asset Management L.P. raised its stake in shares of Lockheed Martin by 25.5% during the 1st quarter. 1832 Asset Management L.P. now owns 9,970 shares of the aerospace company’s stock worth $4,535,000 after purchasing an additional 2,024 shares during the period. Finally, Lazard Asset Management LLC raised its stake in shares of Lockheed Martin by 112.2% during the 1st quarter. Lazard Asset Management LLC now owns 38,442 shares of the aerospace company’s stock worth $17,486,000 after purchasing an additional 20,327 shares during the period. Institutional investors and hedge funds 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.