Susquehanna Boosts Lockheed Martin (NYSE:LMT) Price Target to $565.00

Lockheed Martin (NYSE:LMT) had its price target raised by Susquehanna from $540.00 to $565.00 in a report released on Wednesday, Benzinga reports. Susquehanna currently has a positive rating on the aerospace company’s stock.

LMT has been the topic of a number of other research reports. StockNews.com raised Lockheed Martin from a buy rating to a strong-buy rating in a report on Thursday, April 25th. UBS Group increased their price objective on shares of Lockheed Martin from $482.00 to $499.00 and gave the stock a neutral rating in a research note on Wednesday, April 24th. Citigroup boosted their target price on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a buy rating in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Lockheed Martin from $467.00 to $487.00 and gave the stock a hold rating in a research report on Thursday, April 25th. Finally, The Goldman Sachs Group reduced their price objective on Lockheed Martin from $380.00 to $377.00 and set a sell rating for the company in a research note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin currently has a consensus rating of Moderate Buy and an average target price of $518.91.

Lockheed Martin Stock Up 0.6 %

Shares of LMT opened at $524.71 on Wednesday. The firm has a market cap of $125.07 billion, a P/E ratio of 19.20, a P/E/G ratio of 4.86 and a beta of 0.46. Lockheed Martin has a 1 year low of $393.77 and a 1 year high of $528.64. The stock has a 50 day simple moving average of $469.59 and a two-hundred day simple moving average of $453.91. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.11.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $6.73 EPS. On average, analysts forecast that Lockheed Martin will post 26.43 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a $3.15 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.40%. Lockheed Martin’s dividend payout ratio is presently 46.10%.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now owns 8,877 shares in the company, valued at $4,574,850.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.17% of the stock is currently owned by corporate insiders.

Institutional Trading of Lockheed Martin

A number of institutional investors and hedge funds have recently bought and sold shares of LMT. Franklin Resources Inc. grew its position in shares of Lockheed Martin by 14.9% during the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after purchasing an additional 336,588 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Lockheed Martin by 10,526.6% during the 4th quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock valued at $617,416,000 after buying an additional 1,349,409 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Lockheed Martin by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,038,161 shares of the aerospace company’s stock worth $470,536,000 after acquiring an additional 27,349 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Lockheed Martin by 29.7% during the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after acquiring an additional 218,506 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Lockheed Martin by 1.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 716,832 shares of the aerospace company’s stock valued at $324,897,000 after acquiring an additional 9,136 shares during the last quarter. 74.19% of the stock is currently owned by 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.