Lockheed Martin (NYSE:LMT) Rating Increased to Outperform at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Lockheed Martin (NYSE:LMT) from a sector perform rating to an outperform rating in a research report sent to investors on Monday, MarketBeat Ratings reports. The brokerage currently has $600.00 price objective on the aerospace company’s stock, up from their prior price objective of $500.00.

A number of other analysts have also commented on LMT. Barclays boosted their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an equal weight rating in a research report on Tuesday, July 30th. StockNews.com upgraded shares of Lockheed Martin from a buy rating to a strong-buy rating in a research note on Thursday, April 25th. UBS Group lifted their target price on Lockheed Martin from $511.00 to $538.00 and gave the company a neutral rating in a research report on Wednesday, July 24th. Citigroup upped their target price on Lockheed Martin from $508.00 to $525.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. raised their price target on Lockheed Martin from $518.00 to $560.00 and gave the company an overweight rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin currently has an average rating of Moderate Buy and a consensus price target of $534.46.

Lockheed Martin Stock Up 0.6 %

Lockheed Martin stock opened at $551.62 on Monday. The company has a 50 day moving average of $483.83 and a 200-day moving average of $459.25. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. Lockheed Martin has a twelve month low of $393.77 and a twelve month high of $562.60. The stock has a market capitalization of $132.35 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same period in the prior year, the business earned $6.73 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities research analysts anticipate that Lockheed Martin will post 26.71 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio is presently 46.10%.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.17% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LMT. Hazlett Burt & Watson Inc. increased its stake in Lockheed Martin by 19.7% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 663 shares of the aerospace company’s stock valued at $301,000 after acquiring an additional 109 shares during the last quarter. Walter & Keenan Wealth Management LLC IN ADV raised its holdings in shares of Lockheed Martin by 9.1% during the 4th quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 1,345 shares of the aerospace company’s stock worth $610,000 after buying an additional 112 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in Lockheed Martin by 4.2% in the fourth quarter. Bleakley Financial Group LLC now owns 6,110 shares of the aerospace company’s stock valued at $2,769,000 after buying an additional 247 shares in the last quarter. Moseley Investment Management Inc. grew its position in Lockheed Martin by 3.8% in the fourth quarter. Moseley Investment Management Inc. now owns 5,381 shares of the aerospace company’s stock valued at $2,439,000 after acquiring an additional 199 shares during the last quarter. Finally, Trifecta Capital Advisors LLC raised its stake in Lockheed Martin by 6.0% during the fourth quarter. Trifecta Capital Advisors LLC now owns 7,759 shares of the aerospace company’s stock worth $3,517,000 after acquiring an additional 438 shares in the last quarter. 74.19% of the stock is owned by institutional investors.

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.