Lockheed Martin Target of Unusually Large Options Trading (NYSE:LMT)

Lockheed Martin Co. (NYSE:LMT) was the target of some unusual options trading on Friday. Investors purchased 16,855 call options on the stock. This is an increase of approximately 63% compared to the typical volume of 10,335 call options.

Hedge Funds Weigh In On Lockheed Martin

Several institutional investors have recently made changes to their positions in the business. Itau Unibanco Holding S.A. purchased a new position in Lockheed Martin during the third quarter valued at approximately $26,000. Burkett Financial Services LLC purchased a new position in Lockheed Martin in the third quarter worth about $32,000. Mattson Financial Services LLC bought a new stake in Lockheed Martin during the second quarter worth approximately $27,000. Sachetta LLC raised its position in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares during the period. Finally, Stephens Consulting LLC lifted its stake in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of LMT stock opened at $529.41 on Friday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. Lockheed Martin has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The firm has a market cap of $125.49 billion, a P/E ratio of 19.17, a P/E/G ratio of 4.29 and a beta of 0.49. The business’s 50 day moving average price is $568.75 and its 200-day moving average price is $528.91.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $6.77 earnings per share. On average, equities research analysts anticipate that Lockheed Martin will post 26.94 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. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.49%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is presently 45.62%.

Analysts Set New Price Targets

Several analysts have weighed in on LMT shares. Morgan Stanley lifted their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. UBS Group increased their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Robert W. Baird increased their price objective on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Finally, TD Cowen raised their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

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.