Lockheed Martin (NYSE:LMT) Shares Climb 2.5% – Still a Buy?

Lockheed Martin Corporation (NYSE:LMT)’s stock price traded up 2.5% during mid-day trading on Tuesday. The company traded as high as $605.81 and last traded at $603.1870. Approximately 908,565 shares were traded during trading, a decline of 38% from the average daily volume of 1,469,954 shares. The stock had previously closed at $588.19.

Trending Headlines about Lockheed Martin

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

• Positive Sentiment: A reported $694 million hypersonics contract adds to Lockheed Martin’s program work and revenue visibility. The article also considers whether the shares are attractively valued after the award. Is Lockheed Martin (LMT) Cheap After Its $694 Million Hypersonic Contract?
• Positive Sentiment: Lockheed reached a GMLRS production milestone after a successful ground test of a new General Dynamics solid rocket motor. The test is another step toward accelerating rocket production, potentially helping meet strong missile demand. More Rockets, Faster: Lockheed Martin Reaches Major GMLRS Production Milestone
• Positive Sentiment: Recent coverage points to a third-quarter earnings beat and raised outlook, along with longer-term Department of Defense procurement agreements. Strong F-35 and missile demand and a sizable backlog provide further business visibility. Why Lockheed Martin Rallied in October
• Neutral Sentiment: Coverage of the Nomad UAV and counter-drone effort highlights Lockheed’s push into these areas, but the provided report does not cite a specific contract or financial impact. What Is Lockheed Martin Building With Its Nomad UAV And Counter Drone Push?
• Negative Sentiment: Defense-budget uncertainty remains a potential headwind: one report says defense stocks fell after the midterms amid concerns about a budget fight. Long-term contracts may offer some protection, but spending decisions remain important to future demand. Defense Realignment: Lockheed Martin vs. Palantir

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LMT shares. Robert W. Baird set a $700.00 target price on Lockheed Martin in a research report on Friday, July 24th. Citigroup boosted their price target on Lockheed Martin from $691.00 to $706.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. JPMorgan Chase & Co. upped their price target on Lockheed Martin from $620.00 to $665.00 and gave the stock a “neutral” rating in a research note on Monday, October 26th. Sanford C. Bernstein lowered their price objective on Lockheed Martin from $629.00 to $564.00 and set a “market perform” rating on the stock in a report on Wednesday, October 14th. Finally, Wall Street Zen downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus target price of $647.00.

Lockheed Martin Stock Performance

The firm’s fifty day moving average price is $548.77 and its 200-day moving average price is $569.67. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 2.04. The company has a market cap of $139.34 billion, a P/E ratio of 21.43, a P/E/G ratio of 1.26 and a beta of 0.07.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Thursday, October 22nd. The aerospace company reported $7.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.52 by $0.45. The company had revenue of $20.71 billion during the quarter, compared to analysts’ expectations of $20.48 billion. Lockheed Martin had a net margin of 8.23% and a return on equity of 83.41%. The business’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.95 EPS. As a group, research analysts forecast that Lockheed Martin Corporation will post 30.66 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 1st will be paid a $3.60 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.45. This represents a $14.40 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, December 1st. Lockheed Martin’s payout ratio is presently 49.02%.

Institutional Investors Weigh In On Lockheed Martin

A number of institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Lockheed Martin during the 2nd quarter valued at about $9,617,574,000. Corient Private Wealth LP purchased a new stake in Lockheed Martin in the second quarter worth approximately $101,960,000. Bank of New York Mellon Corp bought a new stake in Lockheed Martin in the 2nd quarter worth approximately $645,258,000. Legal & General Group Plc bought a new stake in Lockheed Martin in the 2nd quarter worth approximately $497,469,000. Finally, Sanders Capital LLC raised its stake in Lockheed Martin by 44.8% during the 3rd quarter. Sanders Capital LLC now owns 3,030,638 shares of the aerospace company’s stock valued at $1,543,352,000 after buying an additional 937,105 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Company Profile

Lockheed Martin Corporation is a global security and aerospace company headquartered in Bethesda, Maryland. Formed in 1995 through the merger of Lockheed Corporation and Martin Marietta, the company develops and produces advanced defense, aerospace, and technology systems for government and commercial customers. Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. Products and services include military aircraft such as the F-35 Lightning II, C-130 Hercules, and F-16 Fighting Falcon; missile-defense and precision-strike systems; helicopters and naval systems; command, control, communications, and intelligence technologies; satellites; space exploration systems; and other classified space and defense programs.