Lockheed Martin Corporation (NYSE:LMT – Get Free Report) shares were up 2.5% on Tuesday. The stock traded as high as $605.81 and last traded at $603.1870. Approximately 908,565 shares changed hands during trading, a decline of 38% from the average daily volume of 1,469,954 shares. The stock had previously closed at $588.19.
Lockheed Martin News Summary
Here are the key news stories impacting Lockheed Martin this week:
- Positive Sentiment: A reported $694 million hypersonics contract adds to Lockheed Martin’s program work and revenue visibility. The article also considers whether the shares are attractively valued after the award. Is Lockheed Martin (LMT) Cheap After Its $694 Million Hypersonic Contract?
- Positive Sentiment: Lockheed reached a GMLRS production milestone after a successful ground test of a new General Dynamics solid rocket motor. The test is another step toward accelerating rocket production, potentially helping meet strong missile demand. More Rockets, Faster: Lockheed Martin Reaches Major GMLRS Production Milestone
- Positive Sentiment: Recent coverage points to a third-quarter earnings beat and raised outlook, along with longer-term Department of Defense procurement agreements. Strong F-35 and missile demand and a sizable backlog provide further business visibility. Why Lockheed Martin Rallied in October
- Neutral Sentiment: Coverage of the Nomad UAV and counter-drone effort highlights Lockheed’s push into these areas, but the provided report does not cite a specific contract or financial impact. What Is Lockheed Martin Building With Its Nomad UAV And Counter Drone Push?
- Negative Sentiment: Defense-budget uncertainty remains a potential headwind: one report says defense stocks fell after the midterms amid concerns about a budget fight. Long-term contracts may offer some protection, but spending decisions remain important to future demand. Defense Realignment: Lockheed Martin vs. Palantir
Analyst Ratings Changes
Several equities analysts have recently commented on LMT shares. Rothschild & Co Redburn started coverage on Lockheed Martin in a report on Tuesday, October 6th. They set a “buy” rating and a $650.00 target price for the company. Morgan Stanley raised their price target on Lockheed Martin from $653.00 to $690.00 and gave the stock an “equal weight” rating in a report on Friday, July 24th. Robert W. Baird set a $700.00 price objective on Lockheed Martin in a research report on Friday, July 24th. Royal Bank Of Canada upped their price objective on Lockheed Martin from $550.00 to $600.00 and gave the stock a “sector perform” rating in a research note on Friday, October 23rd. Finally, Wall Street Zen lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $647.00.
Get Our Latest Analysis on LMT
Lockheed Martin Price Performance
The company has a market capitalization of $139.34 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 1.26 and a beta of 0.07. The business has a fifty day moving average price of $548.77 and a 200 day moving average price of $569.67. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.26 and a quick ratio of 1.10.
Lockheed Martin (NYSE:LMT – Get Free Report) last released its earnings results on Thursday, October 22nd. The aerospace company reported $7.97 earnings per share for the quarter, topping analysts’ consensus estimates of $7.52 by $0.45. The firm had revenue of $20.71 billion during the quarter, compared to the consensus estimate of $20.48 billion. Lockheed Martin had a return on equity of 83.41% and a net margin of 8.23%. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.95 earnings per share. On average, research analysts expect that Lockheed Martin Corporation will post 30.66 earnings per share for the current fiscal year.
Lockheed Martin Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 1st will be paid a $3.60 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $14.40 dividend on an annualized basis and a yield of 2.4%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.45. Lockheed Martin’s dividend payout ratio (DPR) is 49.02%.
Institutional Trading of Lockheed Martin
A number of hedge funds have recently bought and sold shares of the company. Burnham & Co LLC purchased a new stake in shares of Lockheed Martin in the 2nd quarter valued at approximately $25,000. Field & Main Bank purchased a new stake in Lockheed Martin in the 2nd quarter worth about $26,000. Kelleher Financial Advisors acquired a new stake in Lockheed Martin during the 2nd quarter worth about $29,000. Highland Investment Advisors LLC acquired a new stake in Lockheed Martin during the 2nd quarter worth about $29,000. Finally, Allied Private Wealth LLC purchased a new position in Lockheed Martin during the 2nd quarter valued at about $42,000. 74.19% of the stock is owned by hedge funds and other institutional investors.
Lockheed Martin Company Profile
Lockheed Martin Corporation is a global security and aerospace company headquartered in Bethesda, Maryland. Formed in 1995 through the merger of Lockheed Corporation and Martin Marietta, the company develops and produces advanced defense, aerospace, and technology systems for government and commercial customers. Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. Products and services include military aircraft such as the F-35 Lightning II, C-130 Hercules, and F-16 Fighting Falcon; missile-defense and precision-strike systems; helicopters and naval systems; command, control, communications, and intelligence technologies; satellites; space exploration systems; and other classified space and defense programs.
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