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

by · The Markets Daily

Lockheed Martin (NYSE:LMT – Free Report) had its price target increased by TD Cowen from $560.00 to $610.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the aerospace company’s stock.

Several other analysts have also recently weighed in on the stock. Bank of America reissued a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. StockNews.com raised 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 shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price objective on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company increased their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $606.71.

View Our Latest Stock Analysis on Lockheed Martin

Lockheed Martin Stock Down 0.3 %

Shares of NYSE LMT opened at $562.29 on Wednesday. The company has a 50-day moving average of $580.07 and a 200 day moving average of $515.08. Lockheed Martin has a 12-month low of $413.92 and a 12-month high of $618.95. The company has a current ratio of 1.30, a quick ratio of 1.07 and a debt-to-equity ratio of 2.66. The stock has a market cap of $134.03 billion, a PE ratio of 20.36, a P/E/G ratio of 4.62 and a beta of 0.47.

Lockheed Martin (NYSE:LMT – Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the prior year, the company posted $6.77 EPS. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, sell-side analysts predict that Lockheed Martin will post 26.65 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. 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. This represents a $13.20 dividend on an annualized basis and a yield of 2.35%. Lockheed Martin’s dividend payout ratio is 45.62%.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds have recently added to or reduced their stakes in the business. Burkett Financial Services LLC acquired a new stake in Lockheed Martin during the 3rd quarter worth approximately $32,000. Mattson Financial Services LLC acquired a new stake in shares of Lockheed Martin in the 2nd quarter valued at $27,000. Sachetta LLC raised its holdings 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 purchasing an additional 20 shares in the last quarter. Wiser Advisor Group LLC raised its holdings in shares of Lockheed Martin by 65.8% in the 1st 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 in the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Lockheed Martin in the 1st quarter valued at $30,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

About Lockheed Martin

(Get Free Report)

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.

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