Lockheed Martin Corporation (NYSE:LMT) experienced a notable increase in its stock price, rising 2.9% on Monday. The shares peaked at $515.88 during the trading session and were last seen at $511.55, a rise from the previous close of $497.07. In mid-day trading, approximately 1,978,649 shares changed hands, representing a significant 31% increase in volume compared to the average daily volume of 1,510,317 shares.
Analysts have been active in adjusting their perspectives on Lockheed Martin stocks following its recent performance. BNP Paribas recently upgraded the stock to a “strong-buy” rating, while UBS Group lowered their target price from $514.00 to $513.00, maintaining a “neutral” stance. In contrast, Royal Bank of Canada raised its price target from $440.00 to $525.00, rating it as a “sector perform.” Other notable analyst activities include JPMorgan Chase maintaining a “neutral” rating with a revised price target of $515.00, up from $465.00, and Morgan Stanley reaffirming an “equal weight” rating while adjusting its price objective down to $543.00 from $630.00. Overall, Lockheed Martin holds a consensus rating of “Hold” with a target price averaging $506.67 among analysts.
The aerospace and defense giant boasts a market capitalization of $118.37 billion and has demonstrated solid financial health with a P/E ratio of 17.03 and a beta of 0.24. Lockheed Martin reported impressive earnings on October 21st, with earnings per share (EPS) of $6.95, surpassing analysts’ expectations of $6.33. The company’s revenue for the quarter hit $18.61 billion, above the consensus estimate of $18.45 billion, marking an 8.8% year-over-year increase.
In addition to its stock performance, Lockheed Martin also announced a quarterly dividend increase, raising it to $3.45 per share from the previous $3.30. This boost reflects a commitment to returning value to shareholders, translating to an annualized dividend of $13.80 and a yield of 2.7%.
On the insider trading front, COO John Frank A. St recently sold 7,792 shares at an average price of $491.04, significantly reducing his holdings. Meanwhile, institutional investors are showing continued interest in Lockheed Martin. Recent activity includes new purchases and increased stakes by firms such as United Financial Planning Group and Barnes Dennig Private Wealth Management.
Lockheed Martin, headquartered in Bethesda, Maryland, is renowned for its advanced aerospace and defense systems for both government and commercial sectors. The company’s diverse portfolio includes military aircraft, missile defense systems, space technologies, and precision weapons, primarily serving major clients like the U.S. Department of Defense and NASA.
This robust performance and strategic growth in various areas suggest a positive outlook for Lockheed Martin, reinforcing its strong position within the aerospace and defense market.