Lockheed Martin (NYSE:LMT) Stock Price Down 0.5% – Here’s Why

Lockheed Martin Co. (NYSE:LMT) dropped 0.5% on Tuesday . The stock traded as low as $451.26 and last traded at $453.35. Approximately 410,185 shares changed hands during trading, a decline of 71% from the average daily volume of 1,400,923 shares. The stock had previously closed at $455.42.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LMT shares. Susquehanna lowered their price target on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. Barclays lowered their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. StockNews.com lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday. TD Cowen upped their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, UBS Group reduced their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $555.60.

Lockheed Martin Stock Performance

The stock has a 50 day moving average of $490.97 and a two-hundred day moving average of $537.18. The stock has a market capitalization of $106.91 billion, a PE ratio of 20.41, a P/E/G ratio of 2.96 and a beta of 0.48. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Research analysts expect that Lockheed Martin Co. will post 27.29 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

Hedge Funds Weigh In On Lockheed Martin

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position in shares of Lockheed Martin by 0.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,743,757 shares of the aerospace company’s stock valued at $847,361,000 after buying an additional 15,085 shares during the last quarter. Blackhawk Capital Partners LLC. raised its position in Lockheed Martin by 4.2% in the fourth quarter. Blackhawk Capital Partners LLC. now owns 3,095 shares of the aerospace company’s stock valued at $1,504,000 after purchasing an additional 124 shares during the period. Trifecta Capital Advisors LLC lifted its stake in shares of Lockheed Martin by 4.1% during the fourth quarter. Trifecta Capital Advisors LLC now owns 9,922 shares of the aerospace company’s stock worth $4,822,000 after purchasing an additional 391 shares in the last quarter. CWS Financial Advisors LLC boosted its position in shares of Lockheed Martin by 15.8% in the fourth quarter. CWS Financial Advisors LLC now owns 1,452 shares of the aerospace company’s stock worth $705,000 after buying an additional 198 shares during the period. Finally, Pine Valley Investments Ltd Liability Co boosted its position in shares of Lockheed Martin by 24.3% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 14,828 shares of the aerospace company’s stock worth $7,205,000 after buying an additional 2,894 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

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.