Lockheed Martin (NYSE:LMT) Stock Price Up 1.9% - Here's Why

Lockheed Martin Corporation (NYSE:LMT - Get Free Report)'s share price shot up 1.9% during mid-day trading on Tuesday . The stock traded as high as $475.52 and last traded at $475.71. 459,608 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 1,327,029 shares. The stock had previously closed at $467.06.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. UBS Group increased 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. Melius Research cut shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Melius lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Morgan Stanley upgraded Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price target on the stock in a research note on Wednesday, April 16th. Finally, Jefferies Financial Group reduced their price objective on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a research report on Monday, April 28th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Lockheed Martin presently has an average rating of "Moderate Buy" and an average target price of $541.80.

Lockheed Martin Stock Performance

The business has a 50 day moving average price of $471.55 and a two-hundred day moving average price of $469.28. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 2.79. The stock has a market cap of $109.72 billion, a P/E ratio of 20.23, a price-to-earnings-growth ratio of 1.63 and a beta of 0.29.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping the consensus estimate of $6.34 by $0.94. The firm had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. On average, sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 2nd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin's dividend payout ratio (DPR) is 57.02%.

Hedge Funds Weigh In On Lockheed Martin

A number of institutional investors have recently modified their holdings of LMT. Voya Investment Management LLC grew its position in shares of Lockheed Martin by 1.8% in the 1st quarter. Voya Investment Management LLC now owns 92,320 shares of the aerospace company's stock worth $41,240,000 after buying an additional 1,603 shares during the last quarter. Asset Planning Services Inc. LA ADV lifted its holdings in shares of Lockheed Martin by 0.5% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 16,275 shares of the aerospace company's stock valued at $7,270,000 after purchasing an additional 75 shares during the last quarter. Cim Investment Management Inc. acquired a new stake in shares of Lockheed Martin in the 1st quarter worth $1,056,000. Modern Wealth Management LLC grew its stake in Lockheed Martin by 170.9% during the 1st quarter. Modern Wealth Management LLC now owns 2,923 shares of the aerospace company's stock worth $1,306,000 after buying an additional 1,844 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in Lockheed Martin by 36.5% during the 1st quarter. Jones Financial Companies Lllp now owns 117,063 shares of the aerospace company's stock valued at $51,805,000 after buying an additional 31,323 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

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.