Lockheed Martin (NYSE:LMT) Trading Up 2.7% – Still a Buy?

Shares of Lockheed Martin Corporation (NYSE:LMT) were up 2.7% during trading on Friday . The stock traded as high as $662.47 and last traded at $659.2410. Approximately 2,586,777 shares changed hands during mid-day trading, an increase of 34% from the average daily volume of 1,925,786 shares. The stock had previously closed at $641.63.

Wall Street Analyst Weigh In

LMT has been the topic of a number of research reports. UBS Group lifted their price target on shares of Lockheed Martin from $580.00 to $663.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. JPMorgan Chase & Co. lifted their price objective on Lockheed Martin from $515.00 to $680.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. The Goldman Sachs Group upped their price objective on shares of Lockheed Martin from $464.00 to $517.00 and gave the company a “sell” rating in a report on Monday, February 2nd. Citigroup lifted their target price on shares of Lockheed Martin from $592.00 to $673.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Finally, Truist Financial boosted their price target on shares of Lockheed Martin from $605.00 to $695.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Six equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $612.50.

Lockheed Martin Stock Performance

The business’s fifty day moving average price is $578.05 and its 200-day moving average price is $508.04. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.09 and a quick ratio of 0.94. The stock has a market capitalization of $151.68 billion, a PE ratio of 30.68, a P/E/G ratio of 1.17 and a beta of 0.23.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Thursday, January 29th. The aerospace company reported $5.80 earnings per share for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.53). Lockheed Martin had a return on equity of 108.53% and a net margin of 6.69%.The firm had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same period last year, the company posted $7.67 EPS. The business’s revenue was up 9.1% on a year-over-year basis. As a group, equities research analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 2nd will be paid a dividend of $3.45 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $13.80 annualized dividend 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 institutional investors have recently added to or reduced their stakes in LMT. Basso Capital Management L.P. purchased a new position in shares of Lockheed Martin during the fourth quarter worth about $25,000. United Financial Planning Group LLC purchased a new position in Lockheed Martin in the 3rd quarter worth approximately $25,000. Clarity Asset Management Inc. bought a new position in shares of Lockheed Martin in the 4th quarter worth $26,000. Triumph Capital Management increased its holdings in shares of Lockheed Martin by 66.7% in the 4th quarter. Triumph Capital Management now owns 55 shares of the aerospace company’s stock worth $26,000 after buying an additional 22 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC raised its position in shares of Lockheed Martin by 285.7% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock valued at $27,000 after buying an additional 40 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

About Lockheed Martin

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.