Lockheed Martin (NYSE:LMT) Price Target Raised to $700.00

Lockheed Martin (NYSE:LMT) had its price target boosted by Wells Fargo & Company from $600.00 to $700.00 in a report released on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the aerospace company’s stock.

Several other equities research analysts also recently issued reports on the company. Royal Bank Of Canada lifted their price objective on Lockheed Martin from $550.00 to $600.00 and gave the stock a “sector perform” rating in a report on Friday, October 23rd. Weiss Ratings upgraded Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 9th. UBS Group increased their target price on Lockheed Martin from $653.00 to $692.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Wall Street Zen downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 17th. Finally, TD Cowen dropped their price target on shares of Lockheed Martin from $600.00 to $570.00 and set a “hold” rating for the company in a research note on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus target price of $647.00.

Lockheed Martin Stock Down 6.9%

Shares of Lockheed Martin stock opened at $594.71 on Monday. The business has a 50-day moving average of $548.02 and a 200-day moving average of $569.72. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.26 and a quick ratio of 1.10. The company has a market capitalization of $137.38 billion, a PE ratio of 21.46, a P/E/G ratio of 1.36 and a beta of 0.07. Lockheed Martin has a 1-year low of $437.25 and a 1-year high of $692.00.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Thursday, October 22nd. The aerospace company reported $7.97 EPS for the quarter, topping the consensus estimate of $7.52 by $0.45. The business had revenue of $20.71 billion for the quarter, compared to analysts’ expectations of $20.48 billion. Lockheed Martin had a return on equity of 83.41% and a net margin of 8.23%. The company’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.95 earnings per share. As a group, equities analysts forecast that Lockheed Martin will post 30.66 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 1st will be paid a $3.60 dividend. This represents a $14.40 dividend on an annualized basis and a yield of 2.4%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.45. The ex-dividend date is Tuesday, December 1st. Lockheed Martin’s payout ratio is 49.02%.

Institutional Trading of Lockheed Martin

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Lockheed Martin in the 2nd quarter worth about $9,617,574,000. Corient Private Wealth LP acquired a new stake in Lockheed Martin during the 2nd quarter worth about $101,960,000. Bank of New York Mellon Corp purchased a new position in Lockheed Martin during the 2nd quarter valued at about $645,258,000. Legal & General Group Plc purchased a new position in Lockheed Martin during the 2nd quarter valued at about $497,469,000. Finally, Sanders Capital LLC increased its holdings in shares of Lockheed Martin by 44.8% in the 3rd quarter. Sanders Capital LLC now owns 3,030,638 shares of the aerospace company’s stock valued at $1,543,352,000 after purchasing an additional 937,105 shares during the period. 74.19% of the stock is owned by institutional investors.

Lockheed Martin News Roundup

Here are the key news stories impacting Lockheed Martin this week:

• Positive Sentiment: Guggenheim initiated coverage with a Buy rating and a $735 price target, signaling meaningful potential upside. Guggenheim coverage
• Positive Sentiment: Lockheed’s PAC-3 interceptor business could benefit from a multiyear award valued at about $58.6 billion and plans to expand annual production capacity. The large backlog supports future revenue, although execution and profitable delivery remain important. InvestorPlace article on PAC-3 production
• Positive Sentiment: Lockheed was cited for strong relative strength over the past month, supported by its recent quarterly results. Zacks relative-strength report
• Negative Sentiment: Democrats’ midterm gains put control of both chambers of Congress in their hands, raising questions about the administration’s proposed defense spending. Reports cited a possible reduction in the Pentagon’s budget request, creating uncertainty for defense contractors’ future funding and contracts. Motley Fool article on election impact
• Negative Sentiment: Lockheed agreed to pay $29.5 million to settle federal allegations that it discriminated against white workers. The payment is relatively modest compared with the company’s scale, but the case could bring reputational and compliance scrutiny, including because it concerns a federal contractor. New York Post settlement report

Lockheed Martin Company Profile

Lockheed Martin Corporation is a global security and aerospace company headquartered in Bethesda, Maryland. Formed in 1995 through the merger of Lockheed Corporation and Martin Marietta, the company develops and produces advanced defense, aerospace, and technology systems for government and commercial customers.

Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. Products and services include military aircraft such as the F-35 Lightning II, C-130 Hercules, and F-16 Fighting Falcon; missile-defense and precision-strike systems; helicopters and naval systems; command, control, communications, and intelligence technologies; satellites; space exploration systems; and other classified space and defense programs.

Lockheed Martin serves the U.S.