Lockheed Martin (NYSE:LMT) Shares Up 0.7% – Here’s Why

Lockheed Martin Co. (NYSE:LMT) shares shot up 0.7% during trading on Tuesday . The company traded as high as $539.32 and last traded at $534.45. 306,015 shares were traded during mid-day trading, a decline of 71% from the average session volume of 1,061,086 shares. The stock had previously closed at $530.96.

Wall Street Analysts Forecast Growth

LMT has been the topic of a number of research analyst reports. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Wells Fargo & Company raised their price objective 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. Bank of America reiterated a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. JPMorgan Chase & Co. increased their price target on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada reduced their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Price Performance

The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The company has a market capitalization of $126.34 billion, a P/E ratio of 19.35, a PEG ratio of 4.37 and a beta of 0.49. The company’s fifty day moving average price is $575.61 and its 200 day moving average price is $525.71.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.77 EPS. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.48%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is presently 45.62%.

Hedge Funds Weigh In On Lockheed Martin

Hedge funds and other institutional investors have recently made changes to their positions in the company. Old West Investment Management LLC raised its position in Lockheed Martin by 6.6% during the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after purchasing an additional 1,643 shares in the last quarter. Second Line Capital LLC acquired a new position in shares of Lockheed Martin during the 3rd quarter worth $202,000. Hohimer Wealth Management LLC lifted its position in shares of Lockheed Martin by 12.9% during the 3rd quarter. Hohimer Wealth Management LLC now owns 8,094 shares of the aerospace company’s stock worth $4,731,000 after buying an additional 925 shares during the last quarter. TD Private Client Wealth LLC boosted its stake in Lockheed Martin by 0.5% in the third quarter. TD Private Client Wealth LLC now owns 11,223 shares of the aerospace company’s stock valued at $6,561,000 after buying an additional 52 shares in the last quarter. Finally, Virtue Capital Management LLC grew its position in Lockheed Martin by 112.8% in the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after acquiring an additional 1,192 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

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.