Lockheed Martin (NYSE:LMT) Shares Down 0.6% – Here’s Why

by · The Cerbat Gem

Lockheed Martin Co. (NYSE:LMT – Get Free Report) shares dropped 0.6% on Tuesday . The stock traded as low as $549.25 and last traded at $551.95. Approximately 186,837 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 1,051,929 shares. The stock had previously closed at $555.17.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on LMT shares. TD Cowen upped their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Barclays upped their target price on shares of Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research report on Tuesday. StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird upped their price objective on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Finally, UBS Group raised their price objective on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $611.00.

Get Our Latest Research Report on Lockheed Martin

Lockheed Martin Stock Performance

The company has a quick ratio of 1.07, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The firm has a 50 day moving average of $580.01 and a 200-day moving average of $516.25. The company has a market cap of $131.80 billion, a P/E ratio of 20.20, a PEG ratio of 4.62 and a beta of 0.47.

Lockheed Martin (NYSE:LMT – Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same quarter last year, the firm posted $6.77 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 26.65 EPS 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. Stockholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.40%. Lockheed Martin’s dividend payout ratio (DPR) is currently 48.30%.

Institutional Trading of Lockheed Martin

Hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC raised 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 acquiring an additional 1,556,609 shares in the last quarter. Wulff Hansen & CO. raised its holdings in Lockheed Martin by 56,626.7% in the second quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after purchasing an additional 1,019,281 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Lockheed Martin by 29.7% during the first quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after buying an additional 218,506 shares during the last quarter. National Bank of Canada FI lifted its position in shares of Lockheed Martin by 219.3% during the first quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock valued at $149,138,000 after buying an additional 218,466 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Lockheed Martin by 14.9% in the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock worth $646,828,000 after buying an additional 180,074 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Company Profile

(Get Free Report)

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.

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