Lockheed Martin (NYSE:LMT) Trading 1.3% Higher – Still a Buy?

Lockheed Martin Co. (NYSE:LMT)’s stock price rose 1.3% during trading on Wednesday . The stock traded as high as $528.59 and last traded at $528.40. Approximately 221,558 shares changed hands during trading, a decline of 79% from the average daily volume of 1,074,254 shares. The stock had previously closed at $521.45.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LMT shares. Bank of America restated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. Morgan Stanley raised their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. Susquehanna dropped their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. Barclays lifted their price target on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Trading Up 1.0 %

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 business’s fifty day moving average is $571.19 and its two-hundred day moving average is $528.54. The firm has a market cap of $124.79 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 4.27 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last released 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 during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.77 earnings per share. Equities analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is currently 45.62%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Synovus Financial Corp raised its holdings in Lockheed Martin by 4.2% during the 3rd quarter. Synovus Financial Corp now owns 63,602 shares of the aerospace company’s stock worth $37,181,000 after buying an additional 2,558 shares during the period. Tidal Investments LLC raised its position in Lockheed Martin by 106.0% in the 3rd quarter. Tidal Investments LLC now owns 25,878 shares of the aerospace company’s stock valued at $15,127,000 after buying an additional 13,315 shares during the last quarter. Blankinship & Foster LLC bought a new stake in Lockheed Martin in the 3rd quarter valued at approximately $11,466,000. Wilmington Savings Fund Society FSB boosted its position in Lockheed Martin by 194.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 7,419 shares of the aerospace company’s stock worth $4,337,000 after acquiring an additional 4,902 shares during the last quarter. Finally, Arvest Bank Trust Division bought a new position in shares of Lockheed Martin during the 3rd quarter worth approximately $3,116,000. 74.19% of the stock is currently 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.