Lockheed Martin (NYSE:LMT) Trading Up 0.2% – Time to Buy?

Lockheed Martin Co. (NYSE:LMT)’s stock price shot up 0.2% during trading on Tuesday . The stock traded as high as $487.87 and last traded at $487.44. 117,764 shares were traded during mid-day trading, a decline of 89% from the average session volume of 1,096,126 shares. The stock had previously closed at $486.49.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LMT. Bank of America restated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. Citigroup upped their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. TD Cowen raised their price target on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company reduced their price objective on Lockheed Martin from $602.00 to $543.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Finally, Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $612.29.

Lockheed Martin Stock Up 0.3 %

The company has a market capitalization of $115.70 billion, a P/E ratio of 17.67, a price-to-earnings-growth ratio of 4.13 and a beta of 0.47. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The stock’s fifty day moving average is $538.54 and its 200 day moving average is $533.84.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. The firm 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.77 earnings per share. Research analysts predict that Lockheed Martin Co. will post 26.88 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.70%. Lockheed Martin’s payout ratio is 47.79%.

Institutional Trading of Lockheed Martin

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CVA Family Office LLC lifted its holdings in Lockheed Martin by 1.1% in the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after buying an additional 17 shares during the period. AllGen Financial Advisors Inc. raised its position in shares of Lockheed Martin by 4.0% in the 3rd quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock worth $274,000 after acquiring an additional 18 shares in the last quarter. Salomon & Ludwin LLC boosted its position 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 purchasing an additional 18 shares in the last quarter. Sunburst Financial Group LLC grew its stake in Lockheed Martin by 3.3% in the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock worth $331,000 after purchasing an additional 18 shares during the period. Finally, Quad Cities Investment Group LLC raised its holdings in Lockheed Martin by 1.2% in the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after purchasing an additional 19 shares in the last quarter. 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.