Lockheed Martin (NYSE:LMT) Hits New 12-Month High Following Analyst Upgrade

by · The Markets Daily

Shares of Lockheed Martin Co. (NYSE:LMT – Get Free Report) hit a new 52-week high during mid-day trading on Monday after Royal Bank of Canada raised their price target on the stock from $600.00 to $675.00. Royal Bank of Canada currently has an outperform rating on the stock. Lockheed Martin traded as high as $611.59 and last traded at $609.77, with a volume of 232555 shares traded. The stock had previously closed at $605.13.

LMT has been the topic of several other reports. UBS Group raised their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research report on Tuesday, September 3rd. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. lifted their price target on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, Susquehanna lifted their price target on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. One 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’s stock. According to MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus price target of $568.31.

Get Our Latest Analysis on LMT

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the completion of the transaction, the insider now owns 8,877 shares in the company, valued at $4,574,850.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of LMT. Mattson Financial Services LLC purchased a new stake in shares of Lockheed Martin in the second quarter valued at approximately $27,000. Sachetta LLC increased its position in shares of Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares in the last quarter. Wiser Advisor Group LLC increased its position in shares of Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Lockheed Martin during the first quarter worth approximately $30,000. Finally, Stephens Consulting LLC increased its position in shares of Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Price Performance

The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The company has a 50-day moving average of $567.27 and a 200 day moving average of $501.20. The stock has a market capitalization of $145.95 billion, a PE ratio of 22.26, a PEG ratio of 4.66 and a beta of 0.47.

Lockheed Martin (NYSE:LMT – Get Free Report) last issued its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same period in the prior year, the business earned $6.73 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Sell-side analysts predict that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued 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 is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.17%. Lockheed Martin’s dividend payout ratio is 48.30%.

About Lockheed Martin

(Get Free Report)

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.

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