Lockheed Martin (NYSE:LMT) Shares Down 0.5% – What’s Next?

Shares of Lockheed Martin Co. (NYSE:LMT) fell 0.5% during mid-day trading on Wednesday . The stock traded as low as $485.32 and last traded at $488.14. 218,706 shares were traded during mid-day trading, a decline of 80% from the average session volume of 1,082,870 shares. The stock had previously closed at $490.61.

Wall Street Analysts Forecast Growth

LMT has been the subject of several research analyst reports. TD Cowen lifted their price objective on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada lowered their target price on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Citigroup raised their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. boosted their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Bank of America restated a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $612.29.

Lockheed Martin Price Performance

The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The firm has a market cap of $115.09 billion, a PE ratio of 17.58, a P/E/G ratio of 4.13 and a beta of 0.46. The business’s fifty day moving average is $548.15 and its 200-day moving average is $533.36.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $17.38 billion. During the same quarter last year, the business posted $6.77 EPS. Lockheed Martin’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, research analysts predict that Lockheed Martin Co. will post 26.88 earnings per share 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. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is currently 47.79%.

Institutional Investors Weigh In On Lockheed Martin

A number of hedge funds and other institutional investors have recently bought and sold shares of LMT. Itau Unibanco Holding S.A. purchased a new stake in Lockheed Martin during the 3rd quarter worth about $26,000. Burkett Financial Services LLC bought a new position in Lockheed Martin in the 3rd quarter valued at $32,000. Mattson Financial Services LLC bought a new position in shares of Lockheed Martin in the second quarter worth $27,000. Sachetta LLC raised its position in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares in the last quarter. Finally, Stephens Consulting LLC boosted its stake in Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after buying an additional 22 shares during the period. Institutional investors own 74.19% of the company’s stock.

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.