Lockheed Martin (NYSE:LMT) Stock Price Down 1.3% – Here’s Why

Lockheed Martin Co. (NYSE:LMT) shares fell 1.3% during mid-day trading on Monday . The stock traded as low as $482.37 and last traded at $482.88. 218,003 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 1,096,666 shares. The stock had previously closed at $489.02.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Citigroup upped their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Robert W. Baird upped their price objective on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Barclays lifted their target price on Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. upped their price target on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $612.29.

Lockheed Martin Stock Performance

The stock has a market cap of $115.71 billion, a PE ratio of 17.67, a PEG ratio of 4.05 and a beta of 0.46. The stock has a fifty day simple moving average of $536.20 and a two-hundred day simple moving average of $533.96. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same period last year, the business earned $6.77 EPS. The business’s revenue was up 1.3% on a year-over-year basis. Equities analysts anticipate that Lockheed Martin Co. will post 26.88 EPS 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 paid a $3.30 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.70%. Lockheed Martin’s payout ratio is 47.79%.

Institutional Investors Weigh In On Lockheed Martin

A number of hedge funds have recently bought and sold shares of LMT. Geode Capital Management LLC grew its position in shares of Lockheed Martin by 1.8% during the third quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock worth $2,816,898,000 after buying an additional 83,997 shares in the last quarter. FMR LLC boosted its stake in Lockheed Martin by 6.6% during the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after acquiring an additional 209,591 shares during the last quarter. Wellington Management Group LLP grew its holdings in Lockheed Martin by 8.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after acquiring an additional 240,306 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Lockheed Martin by 1.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after acquiring an additional 31,545 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after purchasing an additional 1,556,609 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.