Lockheed Martin (NYSE:LMT) Upgraded to “Outperform” by Royal Bank of Canada

Royal Bank of Canada upgraded shares of Lockheed Martin (NYSE:LMT) from a sector perform rating to an outperform rating in a research report released on Monday morning, MarketBeat reports. They currently have $600.00 target price on the aerospace company’s stock, up from their previous target price of $500.00.

Several other research firms have also recently weighed in on LMT. Wells Fargo & Company increased their price objective on Lockheed Martin from $483.00 to $525.00 and gave the stock an equal weight rating in a report on Wednesday, July 24th. UBS Group lifted their price target on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a neutral rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. upped their price objective on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an overweight rating in a report on Thursday, July 25th. Citigroup lifted their target price on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a buy rating in a research note on Wednesday, April 24th. Finally, StockNews.com raised shares of Lockheed Martin from a buy rating to a strong-buy rating in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin has a consensus rating of Moderate Buy and a consensus target price of $534.46.

Lockheed Martin Stock Up 0.6 %

Shares of NYSE LMT opened at $551.62 on Monday. The firm’s fifty day moving average is $483.83 and its 200 day moving average is $459.25. Lockheed Martin has a 52 week low of $393.77 and a 52 week high of $562.60. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The company has a market cap of $132.35 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 4.40 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. The firm had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.73 earnings per share. On average, equities research analysts expect that Lockheed Martin will post 26.71 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be paid a $3.15 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.28%. Lockheed Martin’s payout ratio is currently 46.10%.

Insider Buying and Selling at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is owned by company insiders.

Institutional Trading of Lockheed Martin

Several institutional investors have recently added to or reduced their stakes in LMT. First Pacific Financial bought a new stake in Lockheed Martin in the 1st quarter worth approximately $25,000. Altshuler Shaham Ltd bought a new stake in shares of Lockheed Martin in the fourth quarter worth $26,000. Sachetta LLC increased its position in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares during the last quarter. Wiser Advisor Group LLC increased its position in Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 25 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Lockheed Martin in the first quarter valued at about $30,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Company Profile

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.