Lockheed Martin (NYSE:LMT) Stock Price Up 1.5%

Lockheed Martin Co. (NYSE:LMT) traded up 1.5% on Wednesday . The company traded as high as $549.74 and last traded at $549.73. 293,625 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 1,090,655 shares. The stock had previously closed at $541.56.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LMT shares. Royal Bank of Canada raised shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $500.00 to $600.00 in a report on Monday. 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 note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft upgraded Lockheed Martin from a “hold” rating to a “buy” rating and raised their price target for the stock from $540.00 to $600.00 in a research report on Friday, July 26th. JPMorgan Chase & Co. raised their target price on Lockheed Martin from $518.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Susquehanna upped their price target on Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $534.46.

Lockheed Martin Stock Performance

The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The stock has a market cap of $131.20 billion, a P/E ratio of 20.01, a PEG ratio of 4.40 and a beta of 0.46. The stock has a fifty day simple moving average of $480.10 and a 200-day simple moving average of $457.97.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. The business had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.73 earnings per share. On average, equities analysts expect that Lockheed Martin Co. will post 26.71 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be issued a $3.15 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.29%. Lockheed Martin’s payout ratio is 46.10%.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 24th. The stock was 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 directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

Large investors have recently modified their holdings of the stock. HTLF Bank boosted its holdings in shares of Lockheed Martin by 3.7% during the second quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock worth $264,000 after acquiring an additional 20 shares during the period. tru Independence LLC increased its position in Lockheed Martin by 2.5% during the 2nd quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock worth $386,000 after buying an additional 20 shares during the period. Sachetta LLC boosted its position in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares during the period. Goldstein Advisors LLC grew its stake in shares of Lockheed Martin by 1.2% in the second quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock valued at $809,000 after acquiring an additional 21 shares in the last quarter. Finally, Hudock Inc. boosted its holdings in Lockheed Martin by 1.3% in the 1st quarter. Hudock Inc. now owns 1,760 shares of the aerospace company’s stock valued at $801,000 after purchasing an additional 22 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.