Lockheed Martin (NYSE:LMT) Trading 1.1% Higher - Here's Why

Key Points

• Lockheed Martin shares rose 1.1% to about $530.10 in mid-day trading, despite volume running 28% below the average.
• Analyst sentiment remains mixed: UBS upgraded the stock to “buy” and raised its target to $674, while the broader analyst consensus is still “Hold” with a $637.56 target price.
• The company reported a strong quarter, beating earnings and revenue estimates, with revenue up 10.5% year over year. Lockheed also declared a quarterly dividend of $3.45 per share, equivalent to a 2.6% annualized yield.

Lockheed Martin Corporation (NYSE:LMT - Get Free Report) shares shot up 1.1% during mid-day trading on Thursday . The stock traded as high as $531.00 and last traded at $530.0950. 1,071,496 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 1,483,353 shares. The stock had previously closed at $524.46.

Wall Street Analysts Forecast Growth

LMT has been the topic of several research analyst reports. Robert W. Baird set a $700.00 target price on Lockheed Martin in a research note on Friday, July 24th. Morgan Stanley upped their price target on Lockheed Martin from $653.00 to $690.00 and gave the stock an "equal weight" rating in a research note on Friday, July 24th. Wall Street Zen raised shares of Lockheed Martin from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 29th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Lockheed Martin in a report on Wednesday, September 2nd. Finally, UBS Group upgraded shares of Lockheed Martin from a "neutral" rating to a "buy" rating and increased their price objective for the company from $581.00 to $674.00 in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Lockheed Martin has an average rating of "Hold" and a consensus target price of $637.56.

Lockheed Martin Stock Performance

The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.01 and a current ratio of 1.19. The firm has a market capitalization of $122.34 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.17 and a beta of 0.10. The firm's 50 day moving average price is $556.64 and its 200-day moving average price is $567.05.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The aerospace company reported $7.94 EPS for the quarter, beating analysts' consensus estimates of $7.22 by $0.72. The company had revenue of $20.06 billion during the quarter, compared to the consensus estimate of $19.34 billion. Lockheed Martin had a net margin of 8.16% and a return on equity of 91.42%. Lockheed Martin's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 EPS. Lockheed Martin has set its FY 2026 guidance at 29.950-30.650 EPS. On average, research analysts expect that Lockheed Martin Corporation will post 30.39 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $3.45 per share. This represents a $13.80 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 1st. Lockheed Martin's payout ratio is 50.87%.

Hedge Funds Weigh In On Lockheed Martin

Several hedge funds have recently made changes to their positions in LMT. California State Teachers Retirement System grew its position in Lockheed Martin by 49,985.5% in the 2nd quarter. California State Teachers Retirement System now owns 163,027,709 shares of the aerospace company's stock valued at $83,056,097,000 after buying an additional 162,702,210 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Lockheed Martin in the second quarter valued at about $9,617,574,000. Corient Private Wealth LP acquired a new position in shares of Lockheed Martin during the second quarter worth about $101,960,000. Bank of New York Mellon Corp purchased a new stake in Lockheed Martin in the 2nd quarter valued at approximately $645,258,000. Finally, Legal & General Group Plc purchased a new position in shares of Lockheed Martin during the 2nd quarter worth approximately $497,469,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Company Profile

Lockheed Martin Corporation is a global aerospace, defense and technology company that develops and produces systems for government and commercial customers, with the U.S. Department of Defense serving as its largest customer. Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.

The company's products and services include military aircraft such as the F-35 Lightning II, F-16 and C-130; air and missile defense systems; precision weapons; helicopters and maritime systems; radar, sensors and command-and-control technologies; satellites; space exploration systems; and missile-warning and strategic defense capabilities.

Lockheed Martin was created in 1995 through the merger of Lockheed Corporation and Martin Marietta.

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