Brokerages Set Lockheed Martin Co. (NYSE:LMT) Target Price at $611.00

Shares of Lockheed Martin Co. (NYSE:LMT) have received an average rating of “Moderate Buy” from the fourteen analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $611.00.

A number of research analysts recently commented on the stock. Morgan Stanley increased their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. TD Cowen raised their price objective on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Susquehanna cut their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their price target on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Bank of America reaffirmed a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th.

Institutional Investors Weigh In On Lockheed Martin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Crewe Advisors LLC acquired a new stake in Lockheed Martin during the first quarter worth about $247,000. Freestone Capital Holdings LLC boosted its position in Lockheed Martin by 12.6% in the 1st quarter. Freestone Capital Holdings LLC now owns 10,878 shares of the aerospace company’s stock worth $4,948,000 after purchasing an additional 1,215 shares in the last quarter. Wellington Wealth Strategies LLC. acquired a new stake in shares of Lockheed Martin during the 1st quarter worth approximately $271,000. Axxcess Wealth Management LLC increased its holdings in shares of Lockheed Martin by 3.0% during the 1st quarter. Axxcess Wealth Management LLC now owns 9,412 shares of the aerospace company’s stock valued at $4,281,000 after purchasing an additional 276 shares in the last quarter. Finally, First Commonwealth Financial Corp PA lifted its stake in shares of Lockheed Martin by 11.7% in the 1st quarter. First Commonwealth Financial Corp PA now owns 1,503 shares of the aerospace company’s stock valued at $684,000 after purchasing an additional 157 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Trading Up 0.0 %

Shares of Lockheed Martin stock opened at $542.22 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The firm has a market cap of $128.53 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 4.43 and a beta of 0.49. Lockheed Martin has a twelve month low of $413.92 and a twelve month high of $618.95. The business has a 50-day moving average price of $573.12 and a 200-day moving average price of $527.79.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data 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 business had revenue of $17.10 billion for 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 EPS. Equities research analysts anticipate that Lockheed Martin will post 26.89 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. Investors 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 2.43%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is 45.62%.

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.