Lockheed Martin (NYSE:LMT) Price Target Raised to $603.00

Lockheed Martin (NYSE:LMT) had its target price increased by UBS Group from $589.00 to $603.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the aerospace company’s stock.

Several other equities analysts have also weighed in on the company. Citigroup lifted their price target on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Susquehanna reduced their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley increased their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Finally, Bank of America reiterated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $606.71.

Lockheed Martin Trading Down 0.3 %

Shares of NYSE:LMT opened at $562.29 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.07 and a debt-to-equity ratio of 2.66. Lockheed Martin has a 12-month low of $413.92 and a 12-month high of $618.95. The business has a 50 day moving average of $580.07 and a two-hundred day moving average of $514.62. The company has a market capitalization of $134.03 billion, a PE ratio of 20.36, a PEG ratio of 4.62 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the previous year, the business posted $6.77 EPS. The business’s revenue was up 1.3% compared to the same quarter last year. As a group, analysts forecast that Lockheed Martin will post 26.65 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $3.30 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.35%. Lockheed Martin’s dividend payout ratio (DPR) is presently 45.62%.

Institutional Trading of Lockheed Martin

Several large investors have recently added to or reduced their stakes in the stock. Burkett Financial Services LLC acquired a new stake in Lockheed Martin during the third quarter worth about $32,000. Mattson Financial Services LLC purchased a new stake in shares of Lockheed Martin in the 2nd quarter valued at approximately $27,000. Sachetta LLC increased its holdings in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the last quarter. Wiser Advisor Group LLC lifted its holdings in Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 25 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in Lockheed Martin in the first quarter valued at approximately $30,000. 74.19% of the stock is currently owned by hedge funds and other 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.