JPMorgan Chase & Co. Boosts Lockheed Martin (NYSE:LMT) Price Target to $560.00

Lockheed Martin (NYSE:LMT) had its price objective raised by JPMorgan Chase & Co. from $518.00 to $560.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the aerospace company’s stock.

LMT has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Lockheed Martin from $487.00 to $540.00 and gave the company a hold rating in a research report on Wednesday. Susquehanna upped their price target on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a positive rating in a research note on Wednesday. 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 report on Tuesday, April 23rd. TD Cowen raised Lockheed Martin from a hold rating to a buy rating and upped their target price for the stock from $480.00 to $560.00 in a research report on Wednesday. Finally, Wells Fargo & Company lifted their price target on Lockheed Martin from $483.00 to $525.00 and gave the company an equal weight rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $518.91.

Lockheed Martin Price Performance

LMT stock opened at $524.80 on Thursday. The firm has a 50-day moving average of $469.59 and a two-hundred day moving average of $453.90. The firm has a market capitalization of $125.09 billion, a PE ratio of 19.20, a P/E/G ratio of 4.89 and a beta of 0.46. The company has a current ratio of 1.24, a quick ratio of 1.11 and a debt-to-equity ratio of 3.10. Lockheed Martin has a one year low of $393.77 and a one year high of $528.64.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same period in the previous year, the firm earned $6.73 earnings per share. Lockheed Martin’s quarterly revenue was up 8.6% on a year-over-year basis. On average, analysts forecast that Lockheed Martin will post 26.26 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.40%. Lockheed Martin’s payout ratio is currently 46.10%.

Insider Buying and Selling at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the sale, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

A number of institutional investors have recently made changes to their positions in LMT. First Pacific Financial acquired a new stake in Lockheed Martin in the 1st quarter valued at approximately $25,000. Altshuler Shaham Ltd acquired a new stake in shares of Lockheed Martin in the fourth quarter worth $26,000. Wiser Advisor Group LLC increased 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 acquiring an additional 25 shares during the period. Activest Wealth Management raised its stake in Lockheed Martin by 1,200.0% during the 4th quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 60 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in Lockheed Martin in the 1st quarter valued at $30,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Company Profile

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.