Lockheed Martin (NYSE:LMT) Stock Price Up 0.5% Following Analyst Upgrade

Lockheed Martin Co. (NYSE:LMT)’s share price traded up 0.5% on Thursday after Baird R W upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $466.76 and last traded at $465.88. 160,523 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 1,244,314 shares. The stock had previously closed at $463.55.

A number of other brokerages also recently weighed in on LMT. Royal Bank of Canada downgraded Lockheed Martin from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $550.00 to $480.00 in a report on Thursday, March 27th. Melius Research lowered shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Barclays reduced their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Truist Financial started coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective for the company. Finally, UBS Group increased their price objective on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a “neutral” rating in a research note on Wednesday. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average price target of $544.79.

Insider Activity at Lockheed Martin

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the transaction, the insider now owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the sale, the vice president now owns 2,278 shares in the company, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock worth $3,155,916 in the last three months. 0.14% of the stock is owned by company insiders.

Institutional Trading of Lockheed Martin

Several institutional investors have recently modified their holdings of the company. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in Lockheed Martin by 51.7% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock valued at $4,630,000 after acquiring an additional 3,247 shares during the last quarter. Capital Investment Advisors LLC lifted its stake in Lockheed Martin by 2.2% during the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after purchasing an additional 2,011 shares during the last quarter. Brady Martz Wealth Solutions LLC bought a new stake in Lockheed Martin during the fourth quarter worth approximately $1,266,000. World Investment Advisors LLC grew its position in Lockheed Martin by 55.1% in the third quarter. World Investment Advisors LLC now owns 6,468 shares of the aerospace company’s stock worth $3,781,000 after buying an additional 2,297 shares during the last quarter. Finally, Private Advisor Group LLC increased its holdings in shares of Lockheed Martin by 11.0% in the fourth quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company’s stock valued at $24,906,000 after buying an additional 5,075 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Price Performance

The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The company has a market cap of $109.52 billion, a price-to-earnings ratio of 20.97, a P/E/G ratio of 2.07 and a beta of 0.39. The business has a 50-day moving average price of $454.80 and a 200 day moving average price of $493.33.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping analysts’ consensus estimates of $6.34 by $0.94. The firm had revenue of $17.96 billion for the quarter, compared to analysts’ expectations of $17.83 billion. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. As a group, research analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.83%. The ex-dividend date was Monday, March 3rd. Lockheed Martin’s payout ratio is 57.02%.

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.