Lockheed Martin (NYSE:LMT) Stock Price Up 0.7%

Lockheed Martin Co. (NYSE:LMT) shares shot up 0.7% on Wednesday . The company traded as high as $564.22 and last traded at $563.25. 125,757 shares traded hands during trading, a decline of 88% from the average session volume of 1,083,888 shares. The stock had previously closed at $559.42.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. The Goldman Sachs Group cut their target price on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research report on Tuesday, April 23rd. Citigroup raised their price objective on Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Wells Fargo & Company upped their target price 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. Morgan Stanley increased their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Lockheed Martin from $518.00 to $560.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $541.85.

Lockheed Martin Trading Down 0.0 %

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’s 50-day moving average is $492.85 and its 200 day moving average is $463.41. The company has a market cap of $134.38 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. The firm had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $6.73 EPS. Research analysts predict that Lockheed Martin Co. will post 26.71 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. 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 2.25%. Lockheed Martin’s dividend payout ratio (DPR) is 46.10%.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction dated 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 approximately $4,574,850.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is owned by insiders.

Institutional Investors Weigh In On Lockheed Martin

Several large investors have recently bought and sold shares of LMT. Gateway Wealth Partners LLC boosted its stake in shares of Lockheed Martin by 161.9% in the second quarter. Gateway Wealth Partners LLC now owns 1,215 shares of the aerospace company’s stock worth $567,000 after acquiring an additional 751 shares during the last quarter. Regal Investment Advisors LLC lifted its holdings in Lockheed Martin by 103.9% in the 2nd quarter. Regal Investment Advisors LLC now owns 2,235 shares of the aerospace company’s stock valued at $1,044,000 after purchasing an additional 1,139 shares in the last quarter. Quarry LP boosted its stake in Lockheed Martin by 242.1% during the 2nd quarter. Quarry LP now owns 5,303 shares of the aerospace company’s stock worth $2,477,000 after purchasing an additional 3,753 shares during the last quarter. Twin Lakes Capital Management LLC grew its holdings in shares of Lockheed Martin by 1.3% during the second quarter. Twin Lakes Capital Management LLC now owns 1,527 shares of the aerospace company’s stock worth $713,000 after buying an additional 20 shares in the last quarter. Finally, William B. Walkup & Associates Inc. acquired a new stake in shares of Lockheed Martin in the second quarter valued at about $646,000. 74.19% of the stock is currently owned by hedge funds and other 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.