Lockheed Martin (NYSE:LMT) Trading Down 0.5% – Should You Sell?

Lockheed Martin Co. (NYSE:LMT) shares dropped 0.5% during trading on Wednesday . The stock traded as low as $485.32 and last traded at $488.14. Approximately 218,706 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 1,082,870 shares. The stock had previously closed at $490.61.

Analyst Upgrades and Downgrades

LMT has been the topic of several research reports. Wells Fargo & Company cut their price objective on Lockheed Martin from $602.00 to $543.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 11th. Citigroup lifted their price target on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. increased their price objective on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus target price of $612.29.

Lockheed Martin Price Performance

The firm’s fifty day simple moving average is $543.35 and its 200-day simple moving average is $532.64. The firm has a market capitalization of $113.70 billion, a PE ratio of 17.37, a PEG ratio of 4.13 and a beta of 0.46. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping 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 company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same period in the previous year, the business earned $6.77 EPS. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, research analysts forecast that Lockheed Martin Co. will post 26.88 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.75%. Lockheed Martin’s dividend payout ratio (DPR) is 47.79%.

Hedge Funds Weigh In On Lockheed Martin

Hedge funds have recently bought and sold shares of the business. Bank of Montreal Can grew its holdings in shares of Lockheed Martin by 2.1% in the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after acquiring an additional 13,253 shares during the period. Hilltop Holdings Inc. boosted its position in Lockheed Martin by 79.9% in the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after purchasing an additional 5,361 shares during the last quarter. Old West Investment Management LLC grew its stake in shares of Lockheed Martin by 6.6% during the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after purchasing an additional 1,643 shares during the period. World Investment Advisors LLC increased its position in shares of Lockheed Martin by 55.1% during the 3rd quarter. World Investment Advisors LLC now owns 6,468 shares of the aerospace company’s stock valued at $3,781,000 after purchasing an additional 2,297 shares during the last quarter. Finally, Empower Advisory Group LLC increased its position in shares of Lockheed Martin by 9.1% during the 3rd quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock valued at $12,870,000 after purchasing an additional 1,843 shares during the last quarter. 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.