Robert W. Baird Boosts Lockheed Martin (NYSE:LMT) Price Target to $626.00

Lockheed Martin (NYSE:LMT) had its price target hoisted by Robert W. Baird from $519.00 to $626.00 in a report released on Tuesday.

Several other research analysts also recently commented on LMT. Royal Bank of Canada lifted their target price on Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Susquehanna increased their price objective on shares of Lockheed Martin from $565.00 to $705.00 and gave the company a “positive” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. lifted their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Wells Fargo & Company increased their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Finally, UBS Group boosted their price objective on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and an average price target of $606.71.

Lockheed Martin Price Performance

Shares of LMT opened at $562.29 on Tuesday. The company has a market cap of $134.03 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 4.62 and a beta of 0.47. The company has a current ratio of 1.30, a quick ratio of 1.07 and a debt-to-equity ratio of 2.66. The company’s fifty day simple moving average is $580.07 and its 200 day simple moving average is $514.62. Lockheed Martin has a 1-year low of $413.92 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same period in the previous year, the business earned $6.77 EPS. Lockheed Martin’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, research analysts forecast that Lockheed Martin will post 26.65 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is 45.62%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Advocates Investment Management increased its holdings in Lockheed Martin by 6.7% in the 3rd quarter. Financial Advocates Investment Management now owns 2,943 shares of the aerospace company’s stock valued at $1,720,000 after buying an additional 186 shares during the period. SteelPeak Wealth LLC boosted its position in shares of Lockheed Martin by 11.5% during the 3rd quarter. SteelPeak Wealth LLC now owns 8,396 shares of the aerospace company’s stock worth $4,908,000 after acquiring an additional 869 shares in the last quarter. Sunburst Financial Group LLC increased its stake in Lockheed Martin by 3.3% in the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after acquiring an additional 18 shares during the last quarter. Diversify Wealth Management LLC raised its position in Lockheed Martin by 26.3% during the third quarter. Diversify Wealth Management LLC now owns 3,999 shares of the aerospace company’s stock valued at $2,284,000 after purchasing an additional 832 shares in the last quarter. Finally, First Trust Direct Indexing L.P. lifted its stake in Lockheed Martin by 7.0% during the third quarter. First Trust Direct Indexing L.P. now owns 6,491 shares of the aerospace company’s stock worth $3,794,000 after purchasing an additional 424 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

About Lockheed Martin

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.