Lockheed Martin (NYSE:LMT) Given New $490.00 Price Target at Susquehanna

Lockheed Martin (NYSE:LMT - Free Report) had its price target lowered by Susquehanna from $550.00 to $490.00 in a report published on Wednesday morning,Benzinga reports. Susquehanna currently has a positive rating on the aerospace company's stock.

A number of other research analysts have also recently issued reports on the company. Wells Fargo & Company cut their price objective on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Wall Street Zen lowered Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 3rd. Robert W. Baird lowered their target price on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating for the company in a research note on Wednesday. UBS Group raised their target price on Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a research note on Wednesday, April 23rd. Finally, Cowen lowered Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Thursday, July 10th. Fifteen research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Lockheed Martin presently has an average rating of "Hold" and an average target price of $506.65.

Lockheed Martin Stock Performance

Shares of LMT traded up $1.05 during mid-day trading on Wednesday, hitting $421.60. The company's stock had a trading volume of 2,458,783 shares, compared to its average volume of 1,823,272. Lockheed Martin has a one year low of $410.11 and a one year high of $618.95. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.91 and a current ratio of 0.98. The firm has a market capitalization of $98.43 billion, a PE ratio of 23.74, a price-to-earnings-growth ratio of 1.45 and a beta of 0.28. The stock's 50-day moving average is $465.80 and its two-hundred day moving average is $462.71.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, topping the consensus estimate of $6.57 by $0.72. The firm had revenue of $18.16 billion during the quarter, compared to analysts' expectations of $18.59 billion. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. Lockheed Martin's quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the business earned $7.11 earnings per share. As a group, sell-side analysts anticipate that Lockheed Martin will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 3.13%. Lockheed Martin's dividend payout ratio is currently 74.32%.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors and hedge funds have recently bought and sold shares of the company. OMNI 360 Wealth Inc. grew its stake in Lockheed Martin by 2.5% in the first quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company's stock valued at $408,000 after acquiring an additional 22 shares during the period. 49 Wealth Management LLC raised its stake in shares of Lockheed Martin by 3.4% during the 1st quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company's stock valued at $295,000 after purchasing an additional 22 shares during the period. Tyler Stone Wealth Management grew its position in Lockheed Martin by 3.3% during the first quarter. Tyler Stone Wealth Management now owns 684 shares of the aerospace company's stock worth $306,000 after buying an additional 22 shares in the last quarter. Investment Advisory Services Inc. TX ADV boosted its holdings in shares of Lockheed Martin by 4.7% in the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 486 shares of the aerospace company's stock worth $225,000 after purchasing an additional 22 shares in the last quarter. Finally, Broadway Wealth Solutions Inc. boosted its holdings in shares of Lockheed Martin by 4.5% in the 2nd quarter. Broadway Wealth Solutions Inc. now owns 511 shares of the aerospace company's stock worth $237,000 after purchasing an additional 22 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

About Lockheed Martin

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.