Lockheed Martin (NYSE:LMT) Trading 2.3% Higher – Here’s Why

Lockheed Martin Corporation (NYSE:LMT)’s share price rose 2.3% during mid-day trading on Friday . The company traded as high as $656.34 and last traded at $652.4080. Approximately 1,462,670 shares traded hands during mid-day trading, a decline of 29% from the average daily volume of 2,063,212 shares. The stock had previously closed at $637.43.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on LMT shares. Jefferies Financial Group upped their price objective on Lockheed Martin from $540.00 to $630.00 and gave the stock a “hold” rating in a report on Sunday, February 1st. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $654.00 price target on shares of Lockheed Martin in a research note on Friday, February 6th. DZ Bank cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and set a $665.00 price target on the stock. in a research report on Tuesday, February 3rd. Morgan Stanley set a $675.00 price objective on shares of Lockheed Martin in a research report on Wednesday, February 4th. Finally, Weiss Ratings raised Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 6th. Six equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Lockheed Martin presently has an average rating of “Hold” and a consensus target price of $612.50.

Lockheed Martin Trading Up 2.3%

The company has a market capitalization of $150.11 billion, a P/E ratio of 30.36, a price-to-earnings-growth ratio of 1.14 and a beta of 0.23. The business has a fifty day moving average price of $541.42 and a 200 day moving average price of $492.08. The company has a quick ratio of 0.94, a current ratio of 1.09 and a debt-to-equity ratio of 3.05.

Lockheed Martin (NYSE:LMT) last released its earnings results on Thursday, January 29th. The aerospace company reported $5.80 earnings per share (EPS) for the quarter, missing the consensus estimate 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%.The business’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $7.67 EPS. On average, analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 2nd will be paid a $3.45 dividend. The ex-dividend date is Monday, March 2nd. This represents a $13.80 dividend on an annualized basis and a yield of 2.1%. Lockheed Martin’s dividend payout ratio (DPR) is currently 64.22%.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds and other institutional investors have recently bought and sold shares of LMT. United Financial Planning Group LLC acquired a new stake in Lockheed Martin during the 3rd quarter valued at $25,000. Triumph Capital Management grew its position in shares of Lockheed Martin by 66.7% in the fourth quarter. Triumph Capital Management now owns 55 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 22 shares during the last quarter. Barnes Dennig Private Wealth Management LLC increased its stake in shares of Lockheed Martin by 285.7% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock worth $27,000 after purchasing an additional 40 shares during the period. Grey Fox Wealth Advisors LLC bought a new position in shares of Lockheed Martin during the third quarter worth approximately $27,000. Finally, Mid American Wealth Advisory Group Inc. acquired a new stake in Lockheed Martin during the 2nd quarter worth approximately $28,000. Institutional investors 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.