Lockheed Martin (NYSE:LMT) Shares Up 0.7% – Still a Buy?

Lockheed Martin Co. (NYSE:LMT)’s stock price shot up 0.7% during mid-day trading on Monday . The company traded as high as $472.27 and last traded at $469.56. 285,689 shares were traded during trading, a decline of 74% from the average session volume of 1,102,425 shares. The stock had previously closed at $466.17.

Wall Street Analyst Weigh In

Several research firms recently commented on LMT. Morgan Stanley cut their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company reissued an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. Citigroup decreased their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Susquehanna cut their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. decreased their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and an average target price of $554.20.

Lockheed Martin Trading Up 0.4 %

The firm has a market cap of $110.47 billion, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The business’s 50 day moving average is $461.50 and its 200-day moving average is $516.79. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.81%. Lockheed Martin’s payout ratio is 59.30%.

Insider Activity

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the sale, the vice president now owns 2,278 shares in the company, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,133 shares of company stock worth $3,155,916. 0.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lockheed Martin

Several institutional investors have recently made changes to their positions in the stock. Virtue Capital Management LLC grew its stake in Lockheed Martin by 112.8% during the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock worth $1,315,000 after buying an additional 1,192 shares during the last quarter. Bank of Montreal Can grew its position in shares of Lockheed Martin by 2.1% during the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after acquiring an additional 13,253 shares during the last quarter. Hilltop Holdings Inc. increased its holdings in shares of Lockheed Martin by 79.9% in the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after acquiring an additional 5,361 shares during the period. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in 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 during the period. Finally, Capital Investment Advisors LLC grew its position in Lockheed Martin by 2.2% in the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock worth $44,770,000 after purchasing an additional 2,011 shares during the last quarter. 74.19% of the stock is 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.