Lockheed Martin (NYSE:LMT) Trading Up 0.8% – Still a Buy?

Lockheed Martin Co. (NYSE:LMT) shares shot up 0.8% during trading on Thursday . The stock traded as high as $529.99 and last traded at $525.75. 890,394 shares changed hands during mid-day trading, a decline of 17% from the average session volume of 1,077,345 shares. The stock had previously closed at $521.45.

Wall Street Analyst Weigh In

LMT has been the subject of a number of recent analyst reports. Robert W. Baird raised their price target on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Barclays lifted their price target on Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 23rd. UBS Group boosted their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Performance

The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The company has a market cap of $124.62 billion, a price-to-earnings ratio of 19.04, a P/E/G ratio of 4.27 and a beta of 0.49. The stock has a 50 day moving average price of $570.39 and a two-hundred day moving average price of $528.52.

Lockheed Martin (NYSE:LMT) last issued 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. The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations 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 last year, the business earned $6.77 earnings per share. Analysts predict that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.51%. The ex-dividend date is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is presently 45.62%.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after acquiring an additional 2,019 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Lockheed Martin by 2.1% during the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after purchasing an additional 13,253 shares in the last quarter. Old West Investment Management LLC lifted its holdings in shares of Lockheed Martin by 6.6% during the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after purchasing an additional 1,643 shares in the last quarter. Empower Advisory Group LLC grew its position in shares of Lockheed Martin by 9.1% in the 3rd quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock valued at $12,870,000 after purchasing an additional 1,843 shares during the period. Finally, Buck Wealth Strategies LLC bought a new stake in Lockheed Martin during the 2nd quarter worth approximately $6,611,000. 74.19% of the stock is owned by 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.