JPMorgan Chase & Co. Boosts Lockheed Martin (NYSE:LMT) Price Target to $630.00

Lockheed Martin (NYSE:LMT) had its target price upped by JPMorgan Chase & Co. from $560.00 to $630.00 in a research note issued to investors on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the aerospace company’s stock.

Several other equities analysts have also recently issued reports on LMT. Wells Fargo & Company lifted their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Barclays lifted their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. UBS Group lifted their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 10th. Finally, Susquehanna raised their target price on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $587.15.

Lockheed Martin Stock Up 1.3 %

Lockheed Martin stock opened at $612.83 on Monday. The stock has a market cap of $147.04 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 4.84 and a beta of 0.47. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The company’s 50-day moving average price is $575.92 and its two-hundred day moving average price is $508.46. Lockheed Martin has a 52 week low of $413.92 and a 52 week high of $614.62.

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 firm had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. Lockheed Martin’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $6.73 EPS. On average, analysts expect that Lockheed Martin will post 26.68 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s dividend payout ratio (DPR) is currently 48.30%.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of the firm’s 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 completion of the sale, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Institutional Trading of Lockheed Martin

Several institutional investors have recently made changes to their positions in the stock. Mattson Financial Services LLC acquired a new stake in Lockheed Martin in the second quarter valued at approximately $27,000. Sachetta LLC lifted its stake in Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares during the last quarter. Wiser Advisor Group LLC lifted its stake in Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in Lockheed Martin in the first quarter valued at approximately $30,000. Finally, Stephens Consulting LLC lifted its stake in Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 22 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

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.