Lockheed Martin (NYSE:LMT) Stock Price Up 3.6% - Here's Why

Lockheed Martin Co. (NYSE:LMT - Get Free Report)'s stock price traded up 3.6% during trading on Friday . The stock traded as high as $488.30 and last traded at $486.00. 1,167,488 shares changed hands during trading, a decline of 11% from the average session volume of 1,313,991 shares. The stock had previously closed at $469.27.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LMT shares. Melius Research downgraded shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Royal Bank of Canada lowered shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and cut their price objective for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Wells Fargo & Company lowered their target price on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Robert W. Baird upgraded shares of Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 target price for the company in a report on Wednesday, April 23rd. Finally, Bank of America lowered shares of Lockheed Martin from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $685.00 to $485.00 in a research report on Monday, March 24th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin presently has an average rating of "Moderate Buy" and a consensus price target of $541.80.

Lockheed Martin Price Performance

The firm has a market cap of $113.81 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29. 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 50 day simple moving average of $470.72 and a two-hundred day simple moving average of $470.04.

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 for the quarter, beating analysts' consensus estimates of $6.34 by $0.94. The company had revenue of $17.96 billion for the quarter, compared to analysts' expectations of $17.83 billion. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Sell-side analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current 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 $3.30 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.72%. Lockheed Martin's payout ratio is currently 57.02%.

Institutional Investors Weigh In On Lockheed Martin

Institutional investors and hedge funds have recently bought and sold shares of the business. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of Lockheed Martin by 51.7% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company's stock valued at $4,630,000 after purchasing an additional 3,247 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in Lockheed Martin during the fourth quarter valued at approximately $33,294,000. Private Advisor Group LLC boosted its holdings in shares of Lockheed Martin by 11.0% in the fourth quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company's stock valued at $24,906,000 after buying an additional 5,075 shares during the period. State of Wyoming boosted its holdings in Lockheed Martin by 93.9% during the fourth quarter. State of Wyoming now owns 1,113 shares of the aerospace company's stock worth $541,000 after purchasing an additional 539 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in Lockheed Martin by 3.9% during the fourth quarter. Treasurer of the State of North Carolina now owns 102,674 shares of the aerospace company's stock worth $49,893,000 after acquiring an additional 3,809 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.