Lockheed Martin (NYSE:LMT) Hits New 12-Month High – Time to Buy?

Lockheed Martin Co. (NYSE:LMT)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $618.95 and last traded at $615.26, with a volume of 73680 shares trading hands. The stock had previously closed at $611.81.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LMT. Susquehanna raised their target price on Lockheed Martin from $565.00 to $705.00 and gave the stock a “positive” rating in a research note on Thursday, October 17th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a research note on Tuesday, September 3rd. Robert W. Baird boosted their target price on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday. Barclays raised their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, Bank of America reaffirmed a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and an average target price of $599.93.

Lockheed Martin Stock Down 6.2 %

The company has a market cap of $138.38 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 4.84 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The business has a 50-day simple moving average of $579.79 and a 200-day simple moving average of $513.10.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. During the same quarter in the prior year, the company posted $6.73 earnings per share. Lockheed Martin’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities analysts anticipate that Lockheed Martin Co. will post 26.68 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.29%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is 48.30%.

Institutional Trading of Lockheed Martin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mattson Financial Services LLC purchased a new position in shares of Lockheed Martin in the 2nd quarter valued at $27,000. Sachetta LLC boosted its stake in Lockheed Martin by 50.0% in 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 in the last quarter. Wiser Advisor Group LLC grew its holdings in shares of Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Lockheed Martin during the first quarter worth about $30,000. Finally, Stephens Consulting LLC grew its stake in Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

About Lockheed Martin

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.