Lockheed Martin (NYSE:LMT) Stock Price Up 1.6% - Here's What Happened

Key Points

• Lockheed Martin's stock rose 1.6% to $480.50, with trading volume decreasing by 16% compared to the average.
• Analysts have adjusted their price targets, with notable reductions from JPMorgan Chase and Cowen, indicating a shift in market sentiment towards the company.
• The company reported $7.29 EPS for the last quarter, exceeding estimates, but its revenue fell short of analyst expectations, totaling $18.16 billion.

Lockheed Martin Corporation (NYSE:LMT - Get Free Report) rose 1.6% during trading on Monday . The company traded as high as $482.07 and last traded at $480.50. Approximately 1,385,791 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 1,641,477 shares. The stock had previously closed at $472.94.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Susquehanna dropped their price target on shares of Lockheed Martin from $550.00 to $490.00 and set a "positive" rating for the company in a research note on Wednesday, July 23rd. Cowen cut shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. reduced their price objective on Lockheed Martin from $520.00 to $465.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Robert W. Baird decreased their price target on shares of Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating for the company in a research note on Wednesday, July 23rd. Finally, Bank of America decreased their price objective on shares of Lockheed Martin from $495.00 to $480.00 and set a "neutral" rating for the company in a research report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and fourteen have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $494.00.

Lockheed Martin Stock Up 1.6%

The business's fifty day moving average price is $447.18 and its 200 day moving average price is $459.07. The firm has a market capitalization of $112.18 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 1.66 and a beta of 0.26. The company has a current ratio of 0.98, a quick ratio of 0.83 and a debt-to-equity ratio of 3.47.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.57 by $0.72. The company had revenue of $18.16 billion for the quarter, compared to analysts' expectations of $18.59 billion. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. Lockheed Martin's revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $7.11 EPS. Lockheed Martin has set its FY 2025 guidance at 21.700-22.000 EPS. On average, equities analysts expect that Lockheed Martin Corporation 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 $3.30 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.7%. Lockheed Martin's payout ratio is currently 74.32%.

Institutional Investors Weigh In On Lockheed Martin

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC increased its stake in shares of Lockheed Martin by 5.0% during the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock valued at $1,941,000 after acquiring an additional 191 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new position in shares of Lockheed Martin during the 4th quarter valued at about $1,084,000. Michels Family Financial LLC acquired a new position in shares of Lockheed Martin during the 4th quarter valued at about $255,000. Vermillion Wealth Management Inc. acquired a new position in shares of Lockheed Martin during the 4th quarter valued at about $226,000. Finally, Putney Financial Group LLC acquired a new position in shares of Lockheed Martin during the 4th quarter valued at about $1,067,000. 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.

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