Lockheed Martin (NYSE:LMT) Stock Price Up 5.2% on Analyst Upgrade

Lockheed Martin Corporation (NYSE:LMT)’s stock price was up 5.2% on Monday after JPMorgan Chase & Co. raised their price target on the stock from $620.00 to $665.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Lockheed Martin traded as high as $636.56 and last traded at $635.5490. 2,639,797 shares changed hands during trading, an increase of 81% from the average session volume of 1,456,957 shares. The stock had previously closed at $604.18.

Other equities research analysts have also recently issued reports about the stock. Sanford C. Bernstein reduced their target price on shares of Lockheed Martin from $629.00 to $564.00 and set a “market perform” rating for the company in a report on Wednesday, October 14th. UBS Group increased their target price on shares of Lockheed Martin from $653.00 to $692.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley raised their price target on Lockheed Martin from $653.00 to $690.00 and gave the stock an “equal weight” rating in a report on Friday, July 24th. Rothschild & Co Redburn initiated coverage on Lockheed Martin in a research report on Tuesday, October 6th. They issued a “buy” rating and a $650.00 price target on the stock. 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, ten have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus price target of $638.05.

Key Stories Impacting Lockheed Martin

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

• Positive Sentiment: Morgan Stanley upgraded LMT to Overweight from Equal-weight and raised its price target to $835 from $690. The firm said a new agreement covering 850 F-35 jets removes a key risk and significantly improves the company’s outlook. Morgan Stanley upgrades Lockheed Martin, says F-35 deal removes key risk
• Positive Sentiment: Analysts highlighted strong demand for Lockheed Martin’s F-35 aircraft and missiles. Three Wall Street analysts issued positive reports, while JPMorgan raised its price target from $620 to $665, although it kept a Neutral rating. Why Lockheed Martin Stock Keeps Going Up
• Positive Sentiment: Lockheed Martin’s third-quarter earnings beat estimates, with EPS of $7.97 versus the $7.52 consensus and revenue of $20.71 billion versus $20.48 billion expected. Revenue increased 11.3% year over year, and the company’s backlog grew 27% toward $300 billion, supporting future sales visibility. Is Now a Good Time to Buy Lockheed Martin?
• Positive Sentiment: The company also raised its dividend, reinforcing the income-investment case and signaling confidence in cash-flow durability. Analysts and market commentary increasingly suggest that LMT may warrant a higher valuation after its strong execution and backlog growth. Lockheed Martin, Interactive Brokers, AEP Hike Dividends on Strong Growth
• Neutral Sentiment: LMT has attracted elevated investor attention and was identified by Zacks as a value-oriented stock, but these articles provide limited new fundamental information. Lockheed Martin Corporation is Attracting Investor Attention

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LMT. Burnham & Co LLC purchased a new position in shares of Lockheed Martin in the 2nd quarter valued at about $25,000. Field & Main Bank acquired a new stake in shares of Lockheed Martin in the second quarter valued at about $26,000. Kelleher Financial Advisors acquired a new stake in shares of Lockheed Martin in the second quarter valued at about $29,000. Highland Investment Advisors LLC purchased a new stake in Lockheed Martin during the second quarter worth about $29,000. Finally, IAG Wealth Partners LLC boosted its holdings in Lockheed Martin by 4,800.0% during the first quarter. IAG Wealth Partners LLC now owns 49 shares of the aerospace company’s stock worth $30,000 after buying an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Up 5.2%

The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 2.04. The business’s fifty day moving average is $538.52 and its 200 day moving average is $541.63. The stock has a market cap of $146.82 billion, a PE ratio of 22.58, a P/E/G ratio of 1.29 and a beta of 0.09.

Lockheed Martin (NYSE:LMT) last issued its earnings results 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. Lockheed Martin had a net margin of 8.23% and a return on equity of 83.41%. The company had revenue of $20.71 billion during the quarter, compared to analysts’ expectations of $20.48 billion. During the same period last year, the company posted $6.95 earnings per share. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, analysts predict that Lockheed Martin Corporation will post 30.51 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 1st will be issued a $3.60 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $14.40 dividend on an annualized basis and a dividend yield of 2.3%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.45. Lockheed Martin’s payout ratio is currently 49.02%.

About Lockheed Martin

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.

Lockheed Martin serves the U.S.