Lockheed Martin (NYSE:LMT) Shares Up 0.1% – What’s Next?

Lockheed Martin Co. (NYSE:LMT)’s stock price shot up 0.1% on Friday . The stock traded as high as $528.61 and last traded at $526.36. 155,997 shares changed hands during trading, a decline of 85% from the average session volume of 1,073,237 shares. The stock had previously closed at $525.75.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on LMT shares. UBS Group upped their price target on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Robert W. Baird lifted their target price on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Bank of America reiterated a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research note on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. increased their price target on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Stock Up 0.3 %

The company has a market capitalization of $125.01 billion, a P/E ratio of 19.06, a PEG ratio of 4.29 and a beta of 0.49. The stock has a 50 day moving average price of $569.60 and a 200 day moving average price of $528.50. 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 released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the business posted $6.77 earnings per share. Equities research analysts forecast that Lockheed Martin Co. will post 26.94 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.50%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is presently 45.62%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its position in shares of Lockheed Martin by 25.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,125 shares of the aerospace company’s stock valued at $523,000 after purchasing an additional 225 shares in the last quarter. OMC Financial Services LTD purchased a new position in shares of Lockheed Martin during the first quarter worth about $2,757,000. American Trust raised its stake in Lockheed Martin by 1.8% in the first quarter. American Trust now owns 1,394 shares of the aerospace company’s stock valued at $634,000 after purchasing an additional 24 shares in the last quarter. IMS Capital Management grew its stake in Lockheed Martin by 7.9% in the 1st quarter. IMS Capital Management now owns 2,344 shares of the aerospace company’s stock worth $1,066,000 after buying an additional 171 shares in the last quarter. Finally, Keynote Financial Services LLC bought a new position in shares of Lockheed Martin in the 1st quarter worth $761,000. Hedge funds and other 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.