Lockheed Martin (NYSE:LMT) Price Target Raised to $610.00 at TD Cowen

Lockheed Martin (NYSE:LMT) had its price objective hoisted by TD Cowen from $560.00 to $610.00 in a research note released on Wednesday morning, Benzinga reports. TD Cowen currently has a buy rating on the aerospace company’s stock.

A number of other analysts have also weighed in on LMT. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Robert W. Baird increased their price target on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday. Melius Research raised Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Wells Fargo & Company raised their target price on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Finally, Barclays lifted their price target on Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $606.71.

Lockheed Martin Price Performance

NYSE LMT opened at $562.29 on Wednesday. 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 debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.07. The stock’s fifty day moving average price is $580.07 and its 200 day moving average price 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 earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The firm had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.77 earnings per share. As a group, equities research analysts forecast that Lockheed Martin will post 26.65 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.35%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s payout ratio is presently 45.62%.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds have recently made changes to their positions in the company. Mattson Financial Services LLC purchased a new stake in shares of Lockheed Martin during the second quarter worth approximately $27,000. Sachetta LLC boosted its stake in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the last quarter. Wiser Advisor Group LLC grew its holdings 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 buying an additional 25 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Lockheed Martin in the first quarter valued at about $30,000. Finally, Stephens Consulting LLC lifted its stake in shares of Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares in 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.