Lockheed Martin (NYSE:LMT) Shares Down 1% – Here’s Why

Lockheed Martin Co. (NYSE:LMT)’s share price dropped 1% during mid-day trading on Monday . The stock traded as low as $556.03 and last traded at $556.68. Approximately 266,214 shares traded hands during trading, a decline of 75% from the average daily volume of 1,051,221 shares. The stock had previously closed at $562.29.

Analysts Set New Price Targets

Several analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Wells Fargo & Company upped their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Royal Bank of Canada decreased their target price on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Robert W. Baird increased their price target on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Finally, Susquehanna decreased their price objective on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and an average price target of $606.71.

Lockheed Martin Price Performance

The firm has a 50 day moving average price of $580.07 and a 200 day moving average price of $515.53. The company has a current ratio of 1.30, a quick ratio of 1.07 and a debt-to-equity ratio of 2.66. The stock has a market capitalization of $133.62 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 4.62 and a beta of 0.47.

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 the consensus estimate 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 quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.77 EPS. Research analysts anticipate that Lockheed Martin Co. will post 26.65 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. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.37%. Lockheed Martin’s dividend payout ratio is 48.30%.

Institutional Trading of Lockheed Martin

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Burkett Financial Services LLC bought a new stake in shares of Lockheed Martin in the third quarter worth about $32,000. Mattson Financial Services LLC purchased a new stake in shares of Lockheed Martin during the 2nd quarter worth approximately $27,000. Sachetta LLC boosted its position in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares during the last quarter. Wiser Advisor Group LLC grew its holdings in shares of Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in Lockheed Martin in the first quarter worth $30,000. 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.