Lockheed Martin (NYSE:LMT) Shares Up 3.9% – Here’s What Happened

Lockheed Martin Corporation (NYSE:LMT)’s share price shot up 3.9% on Monday. The company traded as high as $589.81 and last traded at $589.4750. 1,199,733 shares traded hands during mid-day trading, a decline of 19% from the average session volume of 1,473,452 shares. The stock had previously closed at $567.08.

More Lockheed Martin News

These are some of the LMT news items that stood out recently:

• Positive Sentiment: Lockheed Martin marked delivery of its 100,000th GMLRS rocket and is expanding production. A successful ground test of a new General Dynamics rocket motor is another step toward qualification expected in 2027, potentially helping support higher output. Read More..
• Positive Sentiment: A report cites a $694 million hypersonic contract, adding to evidence of demand for Lockheed’s defense programs. Read More..
• Positive Sentiment: An investor commentary argues that the company’s record $292 billion backlog and existing contracts provide revenue visibility despite budget concerns. It also points to F-35 planning arrangements and production ramps already underway. Read More..

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on LMT shares. JPMorgan Chase & Co. lifted their target price on Lockheed Martin from $620.00 to $665.00 and gave the company a “neutral” rating in a research note on Monday, October 26th. UBS Group lifted their price objective on Lockheed Martin from $653.00 to $692.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. Vertical Research raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $600.00 price objective for the company in a report on Wednesday, October 14th. Wells Fargo & Company upped their target price on shares of Lockheed Martin from $600.00 to $700.00 and gave the company an “equal weight” rating in a research report on Monday, November 2nd. Finally, TD Cowen reduced their target price on shares of Lockheed Martin from $600.00 to $570.00 and set a “hold” rating on the stock in a research note on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $647.00.

Lockheed Martin Stock Up 1.0%

The firm has a market capitalization of $140.67 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 1.25 and a beta of 0.07. The business’s 50-day moving average is $549.59 and its two-hundred day moving average is $569.72. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.10 and a current ratio of 1.26.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Thursday, October 22nd. The aerospace company reported $7.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.52 by $0.45. The firm had revenue of $20.71 billion during the quarter, compared to analysts’ expectations of $20.48 billion. Lockheed Martin had a net margin of 8.23% and a return on equity of 83.41%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.95 earnings per share. On average, equities analysts anticipate that Lockheed Martin Corporation will post 30.66 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 1st will be issued a dividend of $3.60 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.45. The ex-dividend date is Tuesday, December 1st. This represents a $14.40 annualized dividend and a yield of 2.4%. Lockheed Martin’s dividend payout ratio is 51.15%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Burnham & Co LLC acquired a new stake in shares of Lockheed Martin in the 2nd quarter valued at about $25,000. Field & Main Bank acquired a new position in Lockheed Martin during the 2nd quarter worth approximately $26,000. Kelleher Financial Advisors acquired a new position in Lockheed Martin during the 2nd quarter worth approximately $29,000. Highland Investment Advisors LLC bought a new position in shares of Lockheed Martin during the 2nd quarter worth approximately $29,000. Finally, Lynch Investment Planning LLC bought a new position in shares of Lockheed Martin during the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

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.