Lockheed Martin (NYSE:LMT) Trading Up 3.1% After Earnings Beat

Lockheed Martin Co. (NYSE:LMT) shares were up 3.1% on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $493.88 and last traded at $489.08. Approximately 633,916 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 1,054,672 shares. The stock had previously closed at $474.59.

The aerospace company reported $7.11 EPS for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 90.61% and a net margin of 9.48%. The company had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter in the prior year, the firm earned $6.73 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.42%. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on LMT shares. Deutsche Bank Aktiengesellschaft increased their price objective on Lockheed Martin from $487.00 to $540.00 and gave the company a “hold” rating in a research report on Wednesday. Susquehanna increased their target price on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a report on Wednesday. Citigroup raised their target price on Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and raised their target price for the stock from $480.00 to $560.00 in a research report on Wednesday. Finally, Royal Bank of Canada raised their target price on Lockheed Martin from $470.00 to $500.00 and gave the stock a “sector perform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin currently has a consensus rating of “Hold” and a consensus target price of $513.45.

Institutional Trading of Lockheed Martin

Institutional investors have recently bought and sold shares of the company. Warther Private Wealth LLC boosted its position in Lockheed Martin by 86.1% during the fourth quarter. Warther Private Wealth LLC now owns 16,369 shares of the aerospace company’s stock valued at $7,419,000 after purchasing an additional 7,575 shares during the last quarter. Morningstar Investment Services LLC boosted its position in Lockheed Martin by 99.6% during the fourth quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock valued at $66,697,000 after purchasing an additional 73,774 shares during the last quarter. AdvisorNet Financial Inc boosted its position in Lockheed Martin by 0.4% during the fourth quarter. AdvisorNet Financial Inc now owns 7,741 shares of the aerospace company’s stock valued at $3,509,000 after purchasing an additional 29 shares during the last quarter. Cercano Management LLC bought a new position in Lockheed Martin during the fourth quarter valued at about $29,454,000. Finally, Brevan Howard Capital Management LP raised its holdings in Lockheed Martin by 414.2% during the fourth quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock valued at $3,228,000 after buying an additional 5,736 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Trading Up 1.2 %

The company has a fifty day simple moving average of $467.28 and a two-hundred day simple moving average of $452.98. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.11. The company has a market capitalization of $125.10 billion, a P/E ratio of 19.11, a price-to-earnings-growth ratio of 4.67 and a beta of 0.46.

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.