Lockheed Martin (NYSE:LMT) Trading Down 1.1% – Here’s Why

Shares of Lockheed Martin Co. (NYSE:LMT) fell 1.1% during mid-day trading on Wednesday . The stock traded as low as $557.24 and last traded at $559.90. 223,832 shares traded hands during trading, a decline of 79% from the average session volume of 1,052,062 shares. The stock had previously closed at $565.96.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LMT shares. UBS Group raised their price target on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. TD Cowen upped their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Susquehanna cut their price objective on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday, October 23rd. Wells Fargo & Company raised their target price on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Finally, Morgan Stanley boosted their price target on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Down 3.4 %

The firm has a 50-day moving average of $577.75 and a two-hundred day moving average of $523.80. The stock has a market capitalization of $127.77 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 4.56 and a beta of 0.49. 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 released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) 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 the consensus estimate of $17.38 billion. During the same quarter in the prior year, the firm earned $6.77 EPS. The company’s revenue was up 1.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current 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 paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is presently 45.62%.

Institutional Trading of Lockheed Martin

Several large investors have recently made changes to their positions in LMT. Blair William & Co. IL lifted its position in Lockheed Martin by 8.8% during the 1st quarter. Blair William & Co. IL now owns 31,819 shares of the aerospace company’s stock worth $14,474,000 after acquiring an additional 2,563 shares during the last quarter. Intech Investment Management LLC boosted its stake in Lockheed Martin by 27.9% during the 1st quarter. Intech Investment Management LLC now owns 64,208 shares of the aerospace company’s stock valued at $29,206,000 after purchasing an additional 14,018 shares during the period. Spirepoint Private Client LLC acquired a new stake in Lockheed Martin in the 1st quarter valued at approximately $6,591,000. TIAA Trust National Association increased its position in Lockheed Martin by 3.5% in the 1st quarter. TIAA Trust National Association now owns 9,811 shares of the aerospace company’s stock worth $4,463,000 after buying an additional 334 shares during the period. Finally, Ontario Teachers Pension Plan Board acquired a new position in shares of Lockheed Martin during the first quarter worth approximately $2,325,000. Institutional investors 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.