Lockheed Martin (NYSE:LMT) Trading 1.4% Higher – What’s Next?

Lockheed Martin Co. (NYSE:LMT)’s share price traded up 1.4% on Thursday . The company traded as high as $542.53 and last traded at $542.27. 253,306 shares were traded during trading, a decline of 76% from the average session volume of 1,060,004 shares. The stock had previously closed at $534.73.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. UBS Group increased their price objective 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. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research report on Tuesday, September 3rd. Robert W. Baird raised their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Royal Bank of Canada cut their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Citigroup lifted their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Trading Up 1.4 %

The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The firm has a market capitalization of $128.58 billion, a price-to-earnings ratio of 19.63, a P/E/G ratio of 4.36 and a beta of 0.49. The company has a 50 day moving average price of $574.19 and a two-hundred day moving average price of $526.27.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the prior year, the company posted $6.77 EPS. The company’s quarterly revenue was up 1.3% on a year-over-year basis. On average, research analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors 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 2.43%. Lockheed Martin’s dividend payout ratio (DPR) is currently 45.62%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after purchasing an additional 2,019 shares during the period. Old West Investment Management LLC raised its holdings in shares of Lockheed Martin by 6.6% in the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after purchasing an additional 1,643 shares in the last quarter. Buck Wealth Strategies LLC acquired a new stake in shares of Lockheed Martin during the second quarter valued at approximately $6,611,000. Empower Advisory Group LLC raised its holdings in shares of Lockheed Martin by 9.1% during the third quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock valued at $12,870,000 after acquiring an additional 1,843 shares during the period. Finally, Financial Enhancement Group LLC increased its stake in Lockheed Martin by 2,268.3% in the 3rd quarter. Financial Enhancement Group LLC now owns 10,444 shares of the aerospace company’s stock valued at $6,105,000 after buying an additional 10,003 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.