Lockheed Martin (NYSE:LMT) Given New $565.00 Price Target at Barclays

Lockheed Martin (NYSE:LMT) had its target price upped by Barclays from $505.00 to $565.00 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the aerospace company’s stock.

A number of other research analysts have also recently weighed in on LMT. Wells Fargo & Company lifted their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Royal Bank of Canada lowered their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. Susquehanna lowered their price objective on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday, October 23rd. Finally, Robert W. Baird lifted their target price on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $545.54 on Tuesday. The stock has a fifty day moving average of $579.25 and a 200 day moving average of $517.98. Lockheed Martin has a 52 week low of $413.92 and a 52 week high of $618.95. The firm has a market capitalization of $129.31 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 4.47 and a beta of 0.47. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the company earned $6.77 earnings per share. As a group, research analysts expect that Lockheed Martin will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $3.30 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.42%. Lockheed Martin’s payout ratio is presently 47.79%.

Institutional Trading of Lockheed Martin

Large investors have recently added to or reduced their stakes in the company. Costello Asset Management INC bought a new position in shares of Lockheed Martin during the 3rd quarter valued at approximately $63,000. Atria Investments Inc increased its position in shares of Lockheed Martin by 4.1% during the 3rd quarter. Atria Investments Inc now owns 21,385 shares of the aerospace company’s stock valued at $12,501,000 after purchasing an additional 843 shares during the last quarter. Essex Savings Bank increased its position in shares of Lockheed Martin by 15.2% during the 3rd quarter. Essex Savings Bank now owns 3,336 shares of the aerospace company’s stock valued at $1,950,000 after purchasing an additional 440 shares during the last quarter. Kerusso Capital Management LLC increased its position in shares of Lockheed Martin by 6.4% during the 3rd quarter. Kerusso Capital Management LLC now owns 5,134 shares of the aerospace company’s stock valued at $3,001,000 after purchasing an additional 311 shares during the last quarter. Finally, Tompkins Financial Corp increased its position in shares of Lockheed Martin by 36.3% during the 3rd quarter. Tompkins Financial Corp now owns 154 shares of the aerospace company’s stock valued at $90,000 after purchasing an additional 41 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

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.