Lockheed Martin (NYSE:LMT) Reaches New 52-Week High at $562.34

Lockheed Martin Co. (NYSE:LMT - Get Free Report)'s stock price hit a new 52-week high on Monday . The stock traded as high as $562.34 and last traded at $544.50, with a volume of 79049 shares changing hands. The stock had previously closed at $548.77.

Analyst Ratings Changes

• Defense Stocks Soar to New Highs; Higher Highs Are Coming

LMT has been the topic of several research analyst reports. Citigroup boosted their target price on shares of Lockheed Martin from $508.00 to $525.00 and gave the stock a "buy" rating in a report on Wednesday, April 24th. Royal Bank of Canada upgraded shares of Lockheed Martin from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from $500.00 to $600.00 in a research report on Monday. Susquehanna upped their price target on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a "positive" rating in a report on Wednesday, July 24th. UBS Group upped their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Lockheed Martin from a "hold" rating to a "buy" rating and increased their price target for the company from $540.00 to $600.00 in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Lockheed Martin has a consensus rating of "Moderate Buy" and a consensus price target of $534.46.

Check Out Our Latest Research Report on Lockheed Martin

Lockheed Martin Trading Down 1.6 %

• Aerospace Stock Fires Up a Solid EPS Beat and Raises Guidance

The company's fifty day moving average is $476.89 and its two-hundred day moving average is $456.78. 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 company has a market cap of $128.71 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 4.40 and a beta of 0.46.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. Lockheed Martin's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.73 EPS. On average, research analysts anticipate that Lockheed Martin Co. will post 26.71 EPS for the current year.

Lockheed Martin Dividend Announcement

• Why Call Options Volume for These 2 Stocks Spiked Together

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.33%. Lockheed Martin's dividend payout ratio (DPR) is 46.10%.

Insider Activity

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the firm's stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.17% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MCF Advisors LLC lifted its position in Lockheed Martin by 4.5% in the second quarter. MCF Advisors LLC now owns 1,185 shares of the aerospace company's stock valued at $553,000 after buying an additional 51 shares during the last quarter. Sterling Investment Advisors Ltd. lifted its position in Lockheed Martin by 4.5% in the second quarter. Sterling Investment Advisors Ltd. now owns 12,057 shares of the aerospace company's stock valued at $5,632,000 after buying an additional 524 shares during the last quarter. Hamel Associates Inc. lifted its position in shares of Lockheed Martin by 3.4% during the second quarter. Hamel Associates Inc. now owns 9,707 shares of the aerospace company's stock worth $4,534,000 after purchasing an additional 318 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Lockheed Martin by 30.2% during the second quarter. National Bank of Canada FI now owns 414,026 shares of the aerospace company's stock worth $193,089,000 after buying an additional 95,919 shares during the period. Finally, SouthState Corp increased its stake in shares of Lockheed Martin by 48.6% during the second quarter. SouthState Corp now owns 3,267 shares of the aerospace company's stock worth $1,526,000 after buying an additional 1,069 shares during the period. Hedge funds and other institutional investors own 74.19% of the company's stock.

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.

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