Lockheed Martin (NYSE:LMT) Shares Up 0.3% – Here’s Why

Lockheed Martin Co. (NYSE:LMT)’s stock price shot up 0.3% on Thursday . The company traded as high as $443.00 and last traded at $443.10. 339,307 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 1,359,769 shares. The stock had previously closed at $441.97.

Analysts Set New Price Targets

Several analysts have weighed in on LMT shares. JPMorgan Chase & Co. lowered their price objective on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Truist Financial started coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. Barclays lowered their price objective on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company reduced their target price on Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 30th. Finally, Robert W. Baird boosted their target price on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $555.60.

Lockheed Martin Stock Performance

The company has a market capitalization of $102.32 billion, a PE ratio of 19.66, a PEG ratio of 2.12 and a beta of 0.48. The company has a 50 day moving average of $480.54 and a two-hundred day moving average of $534.28. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. As a group, equities research analysts predict that Lockheed Martin Co. will post 27.14 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s payout ratio is currently 59.30%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its holdings in Lockheed Martin by 17.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after acquiring an additional 1,132,461 shares during the period. Geode Capital Management LLC lifted its holdings in Lockheed Martin by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock valued at $2,374,557,000 after acquiring an additional 59,597 shares during the period. FMR LLC lifted its holdings in Lockheed Martin by 6.6% in the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after acquiring an additional 209,591 shares during the period. Wellington Management Group LLP lifted its holdings in Lockheed Martin by 8.5% in the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after acquiring an additional 240,306 shares during the period. Finally, Invesco Ltd. lifted its holdings in Lockheed Martin by 17.5% in the fourth quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company’s stock valued at $1,035,989,000 after acquiring an additional 318,007 shares during the period. 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.