Lockheed Martin (NYSE:LMT) Stock Price Down 0.8%

Lockheed Martin Co. (NYSE:LMT)’s share price fell 0.8% on Wednesday . The stock traded as low as $464.21 and last traded at $464.52. 79,777 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 1,074,321 shares. The stock had previously closed at $468.07.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LMT. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. UBS Group upped their price target on Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Citigroup upped their price target on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. JPMorgan Chase & Co. raised Lockheed Martin from a “neutral” rating to an “overweight” rating and upped their price target for the company from $475.00 to $518.00 in a report on Monday, April 15th. Finally, The Goldman Sachs Group cut their price target on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a report on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $485.40.

Lockheed Martin Price Performance

The stock has a fifty day moving average of $464.34 and a two-hundred day moving average of $450.00. The stock has a market capitalization of $111.95 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 4.41 and a beta of 0.47. The company has a current ratio of 1.30, a quick ratio of 1.11 and a debt-to-equity ratio of 2.89.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, beating analysts’ consensus estimates of $5.80 by $0.53. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The firm had revenue of $17.20 billion during the quarter, compared to analysts’ expectations of $16.04 billion. During the same period last year, the firm posted $6.43 EPS. The business’s revenue was up 13.7% on a year-over-year basis. As a group, equities research analysts forecast that Lockheed Martin Co. will post 26.17 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Monday, June 3rd will be given a $3.15 dividend. The ex-dividend date is Monday, June 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.70%. Lockheed Martin’s payout ratio is 46.10%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Warther Private Wealth LLC boosted its position in Lockheed Martin by 86.1% in the 4th quarter. Warther Private Wealth LLC now owns 16,369 shares of the aerospace company’s stock valued at $7,419,000 after buying an additional 7,575 shares during the last quarter. Alethea Capital Management LLC bought a new position in shares of Lockheed Martin in the 3rd quarter worth $415,000. Morningstar Investment Services LLC boosted its position in shares of Lockheed Martin by 99.6% in the 4th quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock worth $66,697,000 after purchasing an additional 73,774 shares during the last quarter. AdvisorNet Financial Inc grew its stake in Lockheed Martin by 0.4% in the fourth quarter. AdvisorNet Financial Inc now owns 7,741 shares of the aerospace company’s stock valued at $3,509,000 after acquiring an additional 29 shares during the period. Finally, Cercano Management LLC bought a new stake in shares of Lockheed Martin in the fourth quarter valued at about $29,454,000. 74.19% of the stock is currently owned by institutional investors.

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.