Lockheed Martin (NYSE:LMT) Stock Price Up 1.5% - Time to Buy?

Lockheed Martin Corporation (NYSE:LMT - Get Free Report)'s share price rose 1.5% during trading on Thursday . The company traded as high as $426.88 and last traded at $425.86. Approximately 852,118 shares were traded during trading, a decline of 48% from the average daily volume of 1,647,186 shares. The stock had previously closed at $419.39.

Analyst Ratings Changes

LMT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating for the company in a report on Wednesday. Truist Financial cut Lockheed Martin from a "buy" rating to a "hold" rating and reduced their target price for the company from $554.00 to $440.00 in a report on Wednesday. Royal Bank Of Canada dropped their price target on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating for the company in a research report on Wednesday. Cowen lowered Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. Finally, UBS Group dropped their price target on Lockheed Martin from $498.00 to $453.00 and set a "neutral" rating for the company in a research report on Wednesday. Fourteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $506.65.

Lockheed Martin Stock Up 0.8%

The company has a debt-to-equity ratio of 3.47, a current ratio of 0.98 and a quick ratio of 0.91. The firm's 50-day moving average price is $466.72 and its 200 day moving average price is $463.00. The firm has a market cap of $99.37 billion, a P/E ratio of 23.88, a PEG ratio of 1.83 and a beta of 0.28.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The firm had revenue of $18.16 billion for the quarter, compared to analysts' expectations of $18.59 billion. During the same quarter last year, the company posted $7.11 earnings per share. Lockheed Martin's revenue was up .2% on a year-over-year basis. On average, equities research analysts expect that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Tuesday, September 2nd will be paid a $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 3.11%. Lockheed Martin's payout ratio is currently 74.32%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LMT. Vanguard Personalized Indexing Management LLC grew its position in Lockheed Martin by 31.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 33,292 shares of the aerospace company's stock worth $15,431,000 after buying an additional 7,914 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in Lockheed Martin by 2.2% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 14,688 shares of the aerospace company's stock worth $6,803,000 after purchasing an additional 321 shares during the period. Cerro Pacific Wealth Advisors LLC boosted its stake in Lockheed Martin by 2.6% in the 2nd quarter. Cerro Pacific Wealth Advisors LLC now owns 1,747 shares of the aerospace company's stock worth $809,000 after purchasing an additional 44 shares during the period. waypoint wealth counsel acquired a new position in Lockheed Martin in the 2nd quarter worth approximately $260,000. Finally, Inman Jager Wealth Management LLC boosted its stake in Lockheed Martin by 3.8% in the 2nd quarter. Inman Jager Wealth Management LLC now owns 3,674 shares of the aerospace company's stock worth $1,702,000 after purchasing an additional 133 shares during the period. 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.