Lockheed Martin (NYSE:LMT) Price Target Raised to $735.00

Lockheed Martin (NYSE:LMTFree Report) had its price target lifted by Argus from $530.00 to $735.00 in a report published on Friday,MarketScreener reports. Argus currently has a buy rating on the aerospace company’s stock.

A number of other analysts also recently issued reports on the stock. Truist Financial raised their price target on shares of Lockheed Martin from $605.00 to $695.00 and gave the company a “buy” rating in a report on Friday, January 30th. Jefferies Financial Group boosted their price objective on shares of Lockheed Martin from $540.00 to $630.00 and gave the company a “hold” rating in a report on Sunday, February 1st. Citigroup increased their price objective on shares of Lockheed Martin from $592.00 to $673.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Susquehanna restated a “positive” rating and issued a $660.00 target price on shares of Lockheed Martin in a report on Thursday, January 15th. Finally, UBS Group lifted their target price on shares of Lockheed Martin from $580.00 to $663.00 and gave the stock a “neutral” rating in a research report on Monday, February 2nd. Six analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Lockheed Martin has an average rating of “Hold” and a consensus target price of $618.95.

View Our Latest Analysis on LMT

Lockheed Martin Stock Performance

LMT stock opened at $672.02 on Friday. The stock’s 50 day simple moving average is $600.07 and its 200 day simple moving average is $518.66. The company has a current ratio of 1.09, a quick ratio of 0.94 and a debt-to-equity ratio of 3.05. Lockheed Martin has a 12-month low of $410.11 and a 12-month high of $692.00. The stock has a market capitalization of $154.62 billion, a PE ratio of 31.27, a price-to-earnings-growth ratio of 1.21 and a beta of 0.22.

Lockheed Martin (NYSE:LMTGet Free Report) last posted its earnings results on Thursday, January 29th. The aerospace company reported $5.80 EPS for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.53). Lockheed Martin had a return on equity of 108.53% and a net margin of 6.69%.The business had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.84 billion. During the same period in the previous year, the business posted $7.67 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, research analysts forecast that Lockheed Martin will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Monday, March 2nd will be paid a $3.45 dividend. This represents a $13.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Monday, March 2nd. Lockheed Martin’s dividend payout ratio is 64.22%.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors and hedge funds have recently made changes to their positions in the business. Carnegie Investment Counsel lifted its position in Lockheed Martin by 11.4% in the third quarter. Carnegie Investment Counsel now owns 29,639 shares of the aerospace company’s stock valued at $14,796,000 after buying an additional 3,031 shares during the last quarter. VCI Wealth Management LLC acquired a new stake in shares of Lockheed Martin during the third quarter valued at about $3,075,000. DAVENPORT & Co LLC increased its position in shares of Lockheed Martin by 22.4% during the third quarter. DAVENPORT & Co LLC now owns 25,423 shares of the aerospace company’s stock valued at $12,688,000 after acquiring an additional 4,652 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Lockheed Martin by 29.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 10,036 shares of the aerospace company’s stock valued at $5,010,000 after acquiring an additional 2,270 shares during the period. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Lockheed Martin by 9.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 39,410 shares of the aerospace company’s stock valued at $19,674,000 after acquiring an additional 3,352 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin News Roundup

Here are the key news stories impacting Lockheed Martin this week:

Lockheed Martin Company Profile

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Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.

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Analyst Recommendations for Lockheed Martin (NYSE:LMT)

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