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

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

LMT has been the subject of a number of other research reports. Morgan Stanley raised their price target on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised their price target on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research note on Tuesday, September 3rd. TD Cowen raised their price target on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Barclays raised their price target on Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $606.71.

Lockheed Martin Stock Performance

NYSE:LMT opened at $562.29 on Wednesday. The firm has a market cap of $134.03 billion, a PE ratio of 20.36, a price-to-earnings-growth 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 debt-to-equity ratio of 2.66, a quick ratio of 1.07 and a current ratio of 1.30. The business has a 50 day moving average price of $580.07 and a 200-day moving average price of $515.08.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The firm had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.77 earnings per share. Equities research analysts predict that Lockheed Martin will post 26.65 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business 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. The ex-dividend date is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.35%. Lockheed Martin’s dividend payout ratio (DPR) is presently 45.62%.

Hedge Funds Weigh In On Lockheed Martin

Several institutional investors and hedge funds have recently modified their holdings of the stock. CVA Family Office LLC increased its holdings in shares of Lockheed Martin by 1.1% during the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after acquiring an additional 17 shares in the last quarter. AllGen Financial Advisors Inc. increased its holdings in shares of Lockheed Martin by 4.0% during the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after acquiring an additional 18 shares in the last quarter. Salomon & Ludwin LLC increased its holdings in shares of Lockheed Martin by 20.5% during the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock valued at $62,000 after acquiring an additional 18 shares in the last quarter. Sunburst Financial Group LLC increased its holdings in shares of Lockheed Martin by 3.3% during the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after acquiring an additional 18 shares in the last quarter. Finally, Quad Cities Investment Group LLC increased its holdings in shares of Lockheed Martin by 1.2% during the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after acquiring an additional 19 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

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.