Lockheed Martin (NYSE:LMT) Shares Down 1.3% – Here’s Why

Shares of Lockheed Martin Co. (NYSE:LMT) were down 1.3% during trading on Monday . The company traded as low as $482.37 and last traded at $482.88. Approximately 218,003 shares were traded during trading, a decline of 80% from the average daily volume of 1,096,666 shares. The stock had previously closed at $489.02.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Citigroup upped their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. TD Cowen raised their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird increased their target price on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company reduced their price target on Lockheed Martin from $602.00 to $543.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $612.29.

Lockheed Martin Stock Down 0.6 %

The firm’s 50-day moving average price is $541.05 and its 200 day moving average price is $533.23. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The company has a market capitalization of $115.19 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 4.13 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the prior year, the company earned $6.77 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts forecast that Lockheed Martin Co. will post 26.88 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.72%. Lockheed Martin’s payout ratio is presently 47.79%.

Hedge Funds Weigh In On Lockheed Martin

Several institutional investors and hedge funds have recently added to or reduced their stakes in LMT. Geode Capital Management LLC lifted its stake in shares of Lockheed Martin by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock valued at $2,816,898,000 after acquiring an additional 83,997 shares during the last quarter. FMR LLC increased its holdings in Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after purchasing an additional 209,591 shares in the last quarter. Wellington Management Group LLP raised its position in Lockheed Martin by 8.5% in the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after purchasing an additional 240,306 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Lockheed Martin by 1.7% during the second quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after purchasing an additional 31,545 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after buying an additional 1,556,609 shares during the last quarter. 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.