Lockheed Martin (NYSE:LMT) Given New $610.00 Price Target at TD Cowen

Lockheed Martin (NYSE:LMT) had its price target boosted by TD Cowen from $560.00 to $610.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the aerospace company’s stock.

A number of other brokerages have also recently commented on LMT. Deutsche Bank Aktiengesellschaft raised their target price on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research note on Tuesday, September 3rd. Robert W. Baird upped their price target on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday. Susquehanna lowered their price objective on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday. Finally, Morgan Stanley upped their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $606.71.

Lockheed Martin Stock Down 1.0 %

Shares of NYSE:LMT opened at $571.10 on Wednesday. The company has a market capitalization of $137.03 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 4.84 and a beta of 0.47. Lockheed Martin has a 12-month low of $413.92 and a 12-month high of $618.95. The business has a 50-day moving average price of $579.95 and a 200 day moving average price of $513.50. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the business earned $6.77 earnings per share. Sell-side analysts expect that Lockheed Martin will post 26.68 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.31%. Lockheed Martin’s dividend payout ratio (DPR) is 48.30%.

Institutional Trading of Lockheed Martin

A number of institutional investors have recently bought and sold shares of LMT. Burkett Financial Services LLC acquired a new stake in Lockheed Martin in the 3rd quarter valued at about $32,000. Mattson Financial Services LLC purchased a new stake in shares of Lockheed Martin in the second quarter valued at $27,000. Sachetta LLC boosted its stake in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the last quarter. Wiser Advisor Group LLC lifted its position in Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after buying an additional 25 shares during the period. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in Lockheed Martin in the 1st quarter valued at about $30,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

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.