Lockheed Martin (NYSE:LMT) Trading 1.2% Higher - Time to Buy?

Shares of Lockheed Martin Co. (NYSE:LMT - Get Free Report) were up 1.2% on Wednesday . The company traded as high as $486.00 and last traded at $486.00. Approximately 305,435 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 1,572,191 shares. The stock had previously closed at $480.17.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LMT shares. Robert W. Baird raised Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 price objective on the stock in a report on Wednesday, April 23rd. Wall Street Zen downgraded Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 3rd. Royal Bank of Canada lowered Lockheed Martin from an "outperform" rating to a "sector perform" rating and decreased their target price for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Wells Fargo & Company decreased 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. Finally, UBS Group upped their target price on Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a report on Wednesday, April 23rd. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of "Moderate Buy" and an average price target of $541.80.

Lockheed Martin Trading Down 1.0%

The company has a 50 day moving average of $466.28 and a two-hundred day moving average of $473.17. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The stock has a market cap of $111.89 billion, a PE ratio of 21.45, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.34 by $0.94. The business had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Sell-side analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Monday, June 2nd. Lockheed Martin's payout ratio is currently 57.02%.

Hedge Funds Weigh In On Lockheed Martin

Several large investors have recently bought and sold shares of the business. Cim Investment Management Inc. purchased a new position in shares of Lockheed Martin during the first quarter worth about $1,056,000. Modern Wealth Management LLC lifted its position in Lockheed Martin by 170.9% in the first quarter. Modern Wealth Management LLC now owns 2,923 shares of the aerospace company's stock valued at $1,306,000 after purchasing an additional 1,844 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of Lockheed Martin by 36.5% during the 1st quarter. Jones Financial Companies Lllp now owns 117,063 shares of the aerospace company's stock worth $51,805,000 after acquiring an additional 31,323 shares in the last quarter. Silicon Valley Capital Partners boosted its stake in shares of Lockheed Martin by 15.3% during the 1st quarter. Silicon Valley Capital Partners now owns 218 shares of the aerospace company's stock worth $96,000 after acquiring an additional 29 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Lockheed Martin during the 1st quarter worth approximately $21,079,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Company Profile

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.