Lockheed Martin (NYSE:LMT) Price Target Raised to $700.00 at Citigroup

Lockheed Martin (NYSE:LMT) had its target price raised by Citigroup from $570.00 to $700.00 in a report issued on Thursday morning, Benzinga reports. Citigroup currently has a buy rating on the aerospace company’s stock.

Several other research firms also recently weighed in on LMT. Melius upgraded Lockheed Martin from a hold rating to a buy rating and set a $704.00 target price 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 research report on Tuesday, September 3rd. UBS Group lifted their target price on Lockheed Martin from $511.00 to $538.00 and gave the stock a neutral rating in a report on Wednesday, July 24th. Barclays raised their price target on Lockheed Martin from $480.00 to $505.00 and gave the stock an equal weight rating in a research note on Tuesday, July 30th. Finally, Bank of America reiterated a buy rating and set a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $581.77.

Lockheed Martin Stock Performance

Lockheed Martin stock traded up $3.12 during midday trading on Thursday, reaching $600.61. 27,437 shares of the company traded hands, compared to its average volume of 1,053,746. Lockheed Martin has a 12 month low of $413.92 and a 12 month high of $611.59. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The business has a 50 day moving average of $570.92 and a two-hundred day moving average of $503.72. The firm has a market capitalization of $143.16 billion, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The firm had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period last year, the business posted $6.73 EPS. As a group, research analysts predict that Lockheed Martin will post 26.68 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is 45.74%.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is owned by insiders.

Institutional Trading of Lockheed Martin

A number of institutional investors have recently made changes to their positions in LMT. Wulff Hansen & CO. lifted its stake in shares of Lockheed Martin by 56,626.7% during the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after buying an additional 1,019,281 shares during the period. Van ECK Associates Corp lifted its position in Lockheed Martin by 1,075.2% during the 1st quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock worth $218,841,000 after acquiring an additional 440,169 shares during the period. Confluence Investment Management LLC purchased a new stake in Lockheed Martin during the 1st quarter valued at about $151,402,000. Capital Research Global Investors increased its holdings in shares of Lockheed Martin by 29.7% in the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after purchasing an additional 218,506 shares during the period. Finally, National Bank of Canada FI raised its stake in shares of Lockheed Martin by 219.3% in the first quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock worth $149,138,000 after purchasing an additional 218,466 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

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.