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

Lockheed Martin Co. (NYSE:LMT) shares traded down 0.6% on Tuesday . The stock traded as low as $549.25 and last traded at $551.95. 186,837 shares changed hands during trading, a decline of 82% from the average session volume of 1,051,929 shares. The stock had previously closed at $555.17.

Analyst Ratings Changes

LMT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 23rd. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research report on Tuesday, September 3rd. Susquehanna lowered their price objective on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday, October 23rd. Finally, Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Performance

The firm has a market capitalization of $131.35 billion, a P/E ratio of 20.02, a P/E/G ratio of 4.62 and a beta of 0.47. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.07. The firm has a 50-day moving average price of $579.65 and a two-hundred day moving average price of $517.13.

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, beating analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the business posted $6.77 EPS. On average, analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.41%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is 48.30%.

Institutional Investors Weigh In On Lockheed Martin

Several hedge funds have recently made changes to their positions in the company. Burkett Financial Services LLC purchased a new position in Lockheed Martin during the 3rd quarter valued at about $32,000. Mattson Financial Services LLC bought a new position in Lockheed Martin in the second quarter worth approximately $27,000. Sachetta LLC lifted its holdings in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the period. Wiser Advisor Group LLC boosted its position in Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 25 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in shares of Lockheed Martin in the 1st quarter valued at $30,000. 74.19% of the stock is currently owned by hedge funds and other 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.