Lockheed Martin (NYSE:LMT) Price Target Raised to $603.00

Lockheed Martin (NYSE:LMT) had its target price increased by UBS Group from $589.00 to $603.00 in a report published on Wednesday, Benzinga reports. UBS Group currently has a neutral rating on the aerospace company’s stock.

Several other equities research analysts have also recently commented on LMT. Wells Fargo & Company boosted their price target on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price for the company in a research note on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Barclays upped their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada boosted their price target on Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $606.71.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $571.10 on Wednesday. Lockheed Martin has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. 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 company has a market cap of $137.03 billion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The firm’s 50 day simple moving average is $579.95 and its 200-day simple moving average is $513.50.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the prior year, the firm earned $6.77 EPS. The company’s revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts predict that Lockheed Martin will post 26.68 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed 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 represents a $13.20 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is presently 48.30%.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds have recently modified their holdings of the stock. Burkett Financial Services LLC acquired a new stake in shares of Lockheed Martin in the 3rd quarter valued at $32,000. Mattson Financial Services LLC bought a new position in Lockheed Martin in the 2nd quarter valued at $27,000. Sachetta LLC increased its stake in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after buying an additional 20 shares during the period. Wiser Advisor Group LLC raised its position in shares of Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 25 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in shares of Lockheed Martin during the first quarter valued at $30,000. 74.19% of the stock is owned by institutional investors and hedge funds.

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.