Shares of Lockheed Martin Corp. (NYSE:LMT) reached a new 52-week high on Wednesday . The company traded as high as $251.32 and last traded at $249.29, with a volume of 748,938 shares traded. The stock had previously closed at $249.51.

Several brokerages recently issued reports on LMT. Vetr cut Lockheed Martin Corp. from a “buy” rating to a “hold” rating and set a $255.00 price objective on the stock. in a research note on Monday. Stifel Nicolaus cut Lockheed Martin Corp. from a “buy” rating to a “hold” rating and set a $242.44 price objective on the stock. in a research note on Thursday, May 12th. They noted that the move was a valuation call. Berenberg Bank began coverage on Lockheed Martin Corp. in a research note on Thursday, March 17th. They set a “buy” rating and a $250.00 price objective on the stock. Cowen and Company raised their price objective on Lockheed Martin Corp. from $220.00 to $235.00 in a research note on Friday, March 25th. Finally, Royal Bank Of Canada cut Lockheed Martin Corp. from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $241.58 to $244.00 in a research note on Thursday, May 19th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $239.44.

The stock has a market cap of $76.04 billion and a PE ratio of 22.09. The stock has a 50-day moving average price of $241.01 and a 200-day moving average price of $225.96.

Lockheed Martin Corp. (NYSE:LMT) last announced its quarterly earnings results on Tuesday, April 26th. The company reported $2.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.59 by $0.01. The company earned $11.70 billion during the quarter, compared to analyst estimates of $11.36 billion. Lockheed Martin Corp.’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.74 earnings per share. On average, equities research analysts anticipate that Lockheed Martin Corp. will post $11.85 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Thursday, September 1st will be paid a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Tuesday, August 30th.

In other news, CEO Marillyn A. Hewson sold 25,000 shares of the company’s stock in a transaction on Thursday, April 28th. The stock was sold at an average price of $233.16, for a total transaction of $5,829,000.00. Following the transaction, the chief executive officer now owns 90,366 shares of the company’s stock, valued at $21,069,736.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maryanne Lavan sold 21,720 shares of the company’s stock in a transaction on Thursday, April 28th. The shares were sold at an average price of $233.19, for a total value of $5,064,886.80. Following the transaction, the senior vice president now directly owns 19,325 shares in the company, valued at approximately $4,506,396.75. The disclosure for this sale can be found here.

Several institutional investors have recently modified their holdings of LMT. IFC Holdings Incorporated FL raised its position in shares of Lockheed Martin Corp. by 136.6% in the fourth quarter. IFC Holdings Incorporated FL now owns 4,737 shares of the company’s stock valued at $1,028,000 after buying an additional 2,735 shares during the period. Penobscot Investment Management Company Inc. raised its position in shares of Lockheed Martin Corp. by 22.7% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 6,280 shares of the company’s stock valued at $1,364,000 after buying an additional 1,160 shares during the period. Rhumbline Advisers raised its position in shares of Lockheed Martin Corp. by 0.3% in the fourth quarter. Rhumbline Advisers now owns 363,967 shares of the company’s stock valued at $79,035,000 after buying an additional 1,110 shares during the period. Schulhoff & Co. Inc. raised its position in shares of Lockheed Martin Corp. by 0.3% in the fourth quarter. Schulhoff & Co. Inc. now owns 14,744 shares of the company’s stock valued at $3,201,000 after buying an additional 49 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Lockheed Martin Corp. by 72.0% in the fourth quarter. First Trust Advisors LP now owns 182,563 shares of the company’s stock valued at $39,644,000 after buying an additional 76,445 shares during the period.

Lockheed Martin Corporation is a global security and aerospace company. The Company is engaged in the research, design, integration and sustainment of advanced technology systems, products and services. It operates in five segments: Aeronautics; Information Systems & Global Solutions (IS&GS); Missiles and Fire Control (MFC); Mission Systems and Training (MST), and Space Systems.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.