Lockheed Martin (NYSE:LMT) Stock Price Up 3.9% - What's Next?

Key Points

• Lockheed Martin shares rose 3.9% to about $589.48, while trading volume was 19% below its average.
• Analysts maintain a Moderate Buy consensus with an average price target of $647; recent target increases included Citigroup’s $706 and UBS’s $692.
• The company beat quarterly earnings and revenue estimates, with revenue up 11.3% year over year, and raised its quarterly dividend to $3.60 per share.

Lockheed Martin Corporation (NYSE:LMT - Get Free Report) shares shot up 3.9% on Monday. The stock traded as high as $589.81 and last traded at $589.4750. Approximately 1,199,733 shares traded hands during mid-day trading, a decline of 19% from the average daily volume of 1,473,452 shares. The stock had previously closed at $567.08.

Analyst Ratings Changes

LMT has been the topic of a number of research reports. Citigroup upped their target price on shares of Lockheed Martin from $691.00 to $706.00 and gave the stock a "buy" rating in a research report on Friday, October 23rd. Royal Bank Of Canada raised their price target on shares of Lockheed Martin from $550.00 to $600.00 and gave the company a "sector perform" rating in a report on Friday, October 23rd. Rothschild & Co Redburn initiated coverage on shares of Lockheed Martin in a research report on Tuesday, October 6th. They issued a "buy" rating and a $650.00 price objective for the company. UBS Group upped their price objective on Lockheed Martin from $653.00 to $692.00 and gave the stock a "buy" rating in a report on Friday, October 23rd. Finally, Bank of America reiterated a "neutral" rating and issued a $620.00 price objective on shares of Lockheed Martin in a research report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $647.00.

Lockheed Martin Stock Up 3.9%

The business's fifty day simple moving average is $548.25 and its 200 day simple moving average is $569.65. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 2.04. The stock has a market cap of $136.17 billion, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 1.20 and a beta of 0.07.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Thursday, October 22nd. The aerospace company reported $7.97 EPS for the quarter, beating the consensus estimate of $7.52 by $0.45. Lockheed Martin had a net margin of 8.23% and a return on equity of 83.41%. The company had revenue of $20.71 billion during the quarter, compared to analysts' expectations of $20.48 billion. During the same quarter in the previous year, the company posted $6.95 EPS. The business's revenue for the quarter was up 11.3% compared to the same quarter last year. Equities analysts forecast that Lockheed Martin Corporation will post 30.66 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 1st will be issued a dividend of $3.60 per share. This represents a $14.40 dividend on an annualized basis and a yield of 2.4%. This is an increase from Lockheed Martin's previous quarterly dividend of $3.45. The ex-dividend date is Tuesday, December 1st. Lockheed Martin's dividend payout ratio (DPR) is 49.02%.

Institutional Trading of Lockheed Martin

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp raised its stake in Lockheed Martin by 1.3% during the 2nd quarter. State Street Corp now owns 32,975,170 shares of the aerospace company's stock worth $16,799,530,000 after buying an additional 419,582 shares during the period. BlackRock Inc. acquired a new position in Lockheed Martin in the second quarter valued at about $9,617,574,000. Corient Private Wealth LP grew its stake in Lockheed Martin by 3,983.3% in the second quarter. Corient Private Wealth LP now owns 7,110,961 shares of the aerospace company's stock valued at $3,622,750,000 after acquiring an additional 6,936,814 shares during the period. Sanders Capital LLC increased its holdings in shares of Lockheed Martin by 44.8% in the third quarter. Sanders Capital LLC now owns 3,030,638 shares of the aerospace company's stock worth $1,543,352,000 after acquiring an additional 937,105 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Lockheed Martin in the second quarter worth about $645,258,000. 74.19% of the stock is owned by institutional investors.

About Lockheed Martin

Lockheed Martin Corporation is a global security and aerospace company headquartered in Bethesda, Maryland. Formed in 1995 through the merger of Lockheed Corporation and Martin Marietta, the company develops and produces advanced defense, aerospace, and technology systems for government and commercial customers.

Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. Products and services include military aircraft such as the F-35 Lightning II, C-130 Hercules, and F-16 Fighting Falcon; missile-defense and precision-strike systems; helicopters and naval systems; command, control, communications, and intelligence technologies; satellites; space exploration systems; and other classified space and defense programs.

Lockheed Martin serves the U.S.

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