Lockheed Martin (NYSE:LMT) Trading Down 0.2% – Here’s Why

Lockheed Martin Co. (NYSE:LMT)’s share price was down 0.2% during mid-day trading on Thursday . The company traded as low as $516.35 and last traded at $516.44. Approximately 188,532 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 1,074,298 shares. The stock had previously closed at $517.50.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LMT shares. Royal Bank of Canada decreased their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Morgan Stanley lifted their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Friday. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Citigroup boosted their price objective 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Stock Down 0.9 %

The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The firm has a market capitalization of $121.61 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 4.22 and a beta of 0.46. The business’s fifty day moving average price is $563.89 and its 200 day moving average price is $530.36.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. Lockheed Martin’s revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $6.77 EPS. On average, equities analysts expect that Lockheed Martin Co. will post 26.94 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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. This represents a $13.20 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is currently 47.79%.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors have recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in shares of Lockheed Martin during the 3rd quarter worth $26,000. Mattson Financial Services LLC acquired a new position in shares of Lockheed Martin during the 2nd quarter worth $27,000. Sachetta LLC grew its stake in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the period. Stephens Consulting LLC grew its stake in shares of 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 purchasing an additional 22 shares during the period. Finally, Burkett Financial Services LLC acquired a new position in shares of Lockheed Martin during the 3rd quarter worth $32,000. 74.19% of the stock is owned by institutional investors and hedge funds.

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.