Lockheed Martin (NYSE:LMT) Trading 2.3% Higher – Should You Buy?

Shares of Lockheed Martin Corporation (NYSE:LMT) rose 2.3% on Wednesday . The company traded as high as $626.93 and last traded at $624.1050. Approximately 1,189,205 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 1,915,467 shares. The stock had previously closed at $610.17.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on LMT shares. Susquehanna boosted their target price on shares of Lockheed Martin from $725.00 to $740.00 and gave the company a “positive” rating in a research note on Wednesday, March 18th. UBS Group raised their price target on shares of Lockheed Martin from $580.00 to $663.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd. Argus lifted their price target on Lockheed Martin from $530.00 to $735.00 and gave the company a “buy” rating in a report on Friday, March 6th. Royal Bank Of Canada boosted their price objective on Lockheed Martin from $615.00 to $650.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Finally, Truist Financial increased their price objective on Lockheed Martin from $605.00 to $695.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Seven research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $623.16.

Lockheed Martin Stock Down 1.9%

The stock has a market cap of $141.62 billion, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 1.12 and a beta of 0.22. The company has a current ratio of 1.09, a quick ratio of 0.94 and a debt-to-equity ratio of 3.05. The stock’s 50-day moving average is $632.76 and its 200-day moving average is $535.68.

Lockheed Martin (NYSE:LMT) last released its quarterly 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). The company had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.84 billion. Lockheed Martin had a return on equity of 108.53% and a net margin of 6.69%.The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $7.67 earnings per share. As a group, research analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Monday, March 2nd will be issued a dividend of $3.45 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $13.80 annualized dividend and a yield of 2.2%. Lockheed Martin’s payout ratio is presently 64.22%.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. J. Derek Lewis & Associates Inc. acquired a new position in Lockheed Martin during the fourth quarter worth about $203,000. Purpose Unlimited Inc. bought a new position in shares of Lockheed Martin during the 4th quarter valued at about $312,000. Rockefeller Capital Management L.P. boosted its position in shares of Lockheed Martin by 10.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 121,521 shares of the aerospace company’s stock valued at $58,776,000 after purchasing an additional 11,573 shares in the last quarter. World Investment Advisors grew its stake in shares of Lockheed Martin by 54.7% in the 4th quarter. World Investment Advisors now owns 14,739 shares of the aerospace company’s stock worth $7,129,000 after purchasing an additional 5,214 shares during the last quarter. Finally, Nalls Sherbakoff Group LLC acquired a new position in shares of Lockheed Martin in the 4th quarter worth approximately $318,000. 74.19% of the stock is owned by institutional investors.

About Lockheed Martin

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.