Lockheed Martin (NYSE:LMT) Hits New 1-Year High After Analyst Upgrade

Shares of Lockheed Martin Co. (NYSE:LMT) hit a new 52-week high during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $560.00 to $630.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Lockheed Martin traded as high as $611.74 and last traded at $610.87, with a volume of 370791 shares traded. The stock had previously closed at $604.17.

Other equities analysts have also recently issued reports about the stock. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a report on Tuesday, September 3rd. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Susquehanna increased their target price on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company upped their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $587.15.

Insider Activity

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $4,574,850.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds have recently modified their holdings of the stock. Burkett Financial Services LLC purchased a new position in shares of Lockheed Martin during the third quarter valued at $32,000. Mattson Financial Services LLC acquired a new position in shares of Lockheed Martin in the second quarter worth $27,000. Sachetta LLC raised its holdings 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 acquiring an additional 20 shares in the last quarter. Wiser Advisor Group LLC boosted its position in Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in Lockheed Martin in the first quarter valued at about $30,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

The firm has a 50-day simple moving average of $572.03 and a two-hundred day simple moving average of $505.57. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The company has a market capitalization of $146.57 billion, a price-to-earnings ratio of 22.22, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last posted 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. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. During the same period in the previous year, the firm posted $6.73 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 26.68 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a $3.30 dividend. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.16%. Lockheed Martin’s dividend payout ratio (DPR) is currently 48.30%.

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.