Lockheed Martin (NYSE:LMT) Shares Up 2% – What’s Next?

Lockheed Martin Co. (NYSE:LMT)’s share price shot up 2% on Friday . The company traded as high as $564.11 and last traded at $562.97. 271,622 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 1,050,831 shares. The stock had previously closed at $551.84.

Analysts Set New Price Targets

LMT has been the topic of several analyst reports. Bank of America reissued a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. Wells Fargo & Company increased their price target on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Citigroup boosted their price target on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Robert W. Baird increased their price objective on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Performance

The company’s fifty day simple moving average is $578.06 and its two-hundred day simple moving average is $521.21. 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 stock has a market capitalization of $133.82 billion, a P/E ratio of 20.44, a PEG ratio of 4.51 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion for 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 firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the company earned $6.77 earnings per share. As a group, equities analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. 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 2.34%. Lockheed Martin’s dividend payout ratio is 47.79%.

Institutional Trading of Lockheed Martin

Hedge funds and other institutional investors have recently bought and sold shares of the business. Atomi Financial Group Inc. raised its position in shares of Lockheed Martin by 2.0% in the first quarter. Atomi Financial Group Inc. now owns 1,827 shares of the aerospace company’s stock valued at $831,000 after buying an additional 36 shares in the last quarter. NorthRock Partners LLC raised its holdings in Lockheed Martin by 10.3% in the 1st quarter. NorthRock Partners LLC now owns 2,031 shares of the aerospace company’s stock valued at $924,000 after acquiring an additional 189 shares in the last quarter. Delta Financial Advisors LLC lifted its position in shares of Lockheed Martin by 6.1% during the 1st quarter. Delta Financial Advisors LLC now owns 1,347 shares of the aerospace company’s stock valued at $613,000 after acquiring an additional 77 shares during the period. Williams Jones Wealth Management LLC. grew its holdings in shares of Lockheed Martin by 13.0% during the 1st quarter. Williams Jones Wealth Management LLC. now owns 8,444 shares of the aerospace company’s stock worth $3,841,000 after purchasing an additional 974 shares in the last quarter. Finally, Legacy Capital Group California Inc. increased its position in shares of Lockheed Martin by 17.1% in the first quarter. Legacy Capital Group California Inc. now owns 865 shares of the aerospace company’s stock worth $393,000 after purchasing an additional 126 shares during the period. Institutional investors and hedge funds 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.