Lockheed Martin (NYSE:LMT) Sets New 1-Year High – Here’s What Happened
by Michael Walen · The Markets DailyLockheed Martin Corporation (NYSE:LMT – Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $660.55 and last traded at $650.6670, with a volume of 1349399 shares traded. The stock had previously closed at $649.58.
Analyst Upgrades and Downgrades
Several research analysts have commented on LMT shares. Wall Street Zen lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Sunday, February 8th. Morgan Stanley set a $675.00 target price on Lockheed Martin in a report on Wednesday, February 4th. Citigroup boosted their price target on Lockheed Martin from $592.00 to $673.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. BNP Paribas Exane upped their price target on Lockheed Martin from $550.00 to $570.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. Finally, TD Cowen lifted their price objective on shares of Lockheed Martin from $600.00 to $670.00 and gave the company a “hold” rating in a research note on Friday, January 30th. Six analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of “Hold” and a consensus target price of $612.50.
Get Our Latest Analysis on LMT
Lockheed Martin Stock Performance
The stock’s 50-day moving average price is $556.48 and its 200-day moving average price is $499.04. The company has a current ratio of 1.09, a quick ratio of 0.94 and a debt-to-equity ratio of 3.05. The company has a market capitalization of $149.71 billion, a P/E ratio of 30.28, a P/E/G ratio of 1.17 and a beta of 0.23.
Lockheed Martin (NYSE:LMT – Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The aerospace company reported $5.80 EPS for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.53). The company had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.84 billion. Lockheed Martin had a return on equity of 108.53% and a net margin of 6.69%.Lockheed Martin’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.67 earnings per share. As a group, equities analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.
Lockheed Martin Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 2nd will be given a dividend of $3.45 per share. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Monday, March 2nd. Lockheed Martin’s payout ratio is 64.22%.
Institutional Trading of Lockheed Martin
Several institutional investors have recently modified their holdings of the company. Brighton Jones LLC raised its holdings in shares of Lockheed Martin by 5.0% in the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock worth $1,941,000 after purchasing an additional 191 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in Lockheed Martin by 5.4% during the second quarter. Sivia Capital Partners LLC now owns 973 shares of the aerospace company’s stock worth $451,000 after buying an additional 50 shares in the last quarter. Integrity Financial Corp WA acquired a new position in Lockheed Martin in the second quarter worth approximately $206,000. Schnieders Capital Management LLC. increased its holdings in shares of Lockheed Martin by 17.3% in the second quarter. Schnieders Capital Management LLC. now owns 1,460 shares of the aerospace company’s stock valued at $676,000 after buying an additional 215 shares in the last quarter. Finally, Cullen Frost Bankers Inc. increased its holdings in shares of Lockheed Martin by 1.3% in the second quarter. Cullen Frost Bankers Inc. now owns 31,209 shares of the aerospace company’s stock valued at $14,454,000 after buying an additional 393 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.
Lockheed Martin Company Profile
Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.
Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.