Lockheed Martin (NYSE:LMT) Sets New 1-Year High – Here’s What Happened

Lockheed Martin Corporation (NYSE:LMT) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $660.55 and last traded at $650.6670, with a volume of 1349399 shares. The stock had previously closed at $649.58.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LMT. TD Cowen increased their price target on shares of Lockheed Martin from $600.00 to $670.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Wall Street Zen cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 8th. Sanford C. Bernstein reiterated a “market perform” rating and set a $654.00 target price on shares of Lockheed Martin in a research note on Friday, February 6th. Truist Financial boosted their price target on Lockheed Martin from $605.00 to $695.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, DZ Bank downgraded Lockheed Martin from a “buy” rating to a “hold” rating and set a $665.00 price objective for the company. in a research note on Tuesday, February 3rd. Six analysts have rated the stock with a Buy rating, fourteen 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 price target of $612.50.

Lockheed Martin Price Performance

The company has a market cap of $149.71 billion, a price-to-earnings ratio of 30.28, a price-to-earnings-growth ratio of 1.17 and a beta of 0.23. The company has a fifty day simple moving average of $556.48 and a two-hundred day simple moving average of $499.04. The company has a quick ratio of 0.94, a current ratio of 1.09 and a debt-to-equity ratio of 3.05.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Thursday, January 29th. The aerospace company reported $5.80 EPS for the quarter, missing the consensus estimate of $6.33 by ($0.53). The business had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.84 billion. Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.67 earnings per share. On average, equities research analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 2nd will be paid a $3.45 dividend. This represents a $13.80 annualized dividend and a yield of 2.1%. The ex-dividend date is Monday, March 2nd. Lockheed Martin’s dividend payout ratio is presently 64.22%.

Hedge Funds Weigh In On Lockheed Martin

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LLC increased its stake in Lockheed Martin by 203.3% during the fourth quarter. Corient Private Wealth LLC now owns 560,363 shares of the aerospace company’s stock worth $271,031,000 after acquiring an additional 375,622 shares during the last quarter. CrossGen Wealth LLC purchased a new stake in shares of Lockheed Martin during the 4th quarter worth about $207,000. Strive Financial Group LLC acquired a new stake in Lockheed Martin during the 4th quarter worth approximately $61,000. Ameriflex Group Inc. raised its holdings in Lockheed Martin by 34.2% in the fourth quarter. Ameriflex Group Inc. now owns 966 shares of the aerospace company’s stock valued at $467,000 after buying an additional 246 shares during the period. Finally, Widmann Financial Services Inc. raised its holdings in Lockheed Martin by 11.9% in the fourth quarter. Widmann Financial Services Inc. now owns 1,822 shares of the aerospace company’s stock valued at $881,000 after buying an additional 194 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

About Lockheed Martin

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.