Lockheed Martin (NYSE:LMT) Shares Gap Down – Should You Sell?

Lockheed Martin Co. (NYSE:LMT) shares gapped down before the market opened on Monday . The stock had previously closed at $439.70, but opened at $425.63. Lockheed Martin shares last traded at $435.12, with a volume of 501,598 shares changing hands.

Analyst Ratings Changes

LMT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Wells Fargo & Company restated an “equal weight” rating on shares of Lockheed Martin in a report on Monday, March 10th. Royal Bank of Canada reduced their price objective on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Melius lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday. Finally, UBS Group reduced their price objective on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Hold” and an average target price of $544.20.

Lockheed Martin Price Performance

The stock’s fifty day moving average is $460.94 and its 200-day moving average is $514.45. The stock has a market capitalization of $102.00 billion, a PE ratio of 19.47, a P/E/G ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, equities analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Insiders Place Their Bets

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the sale, the insider now directly owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the sale, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,133 shares of company stock worth $3,155,916. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds have recently modified their holdings of the business. Itau Unibanco Holding S.A. acquired a new stake in shares of Lockheed Martin in the third quarter valued at about $26,000. Millstone Evans Group LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at about $32,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at about $34,000. Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at about $35,000. Finally, Redwood Park Advisors LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at about $40,000. 74.19% of the stock is currently 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.