Lockheed Martin (NYSE:LMT) Stock Price Down 2.7% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT) traded down 2.7% during mid-day trading on Monday . The stock traded as low as $419.70 and last traded at $423.15. 3,251,191 shares were traded during mid-day trading, an increase of 129% from the average session volume of 1,420,672 shares. The stock had previously closed at $434.72.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. UBS Group reduced their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Barclays reduced their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Citigroup lowered their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Susquehanna reduced their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. decreased their price objective on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $555.60.

Lockheed Martin Stock Up 1.0 %

The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The company has a market capitalization of $101.85 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 2.00 and a beta of 0.48. The business has a 50 day simple moving average of $473.65 and a 200 day simple moving average of $531.03.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, equities analysts predict that Lockheed Martin Co. will post 27.14 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors and hedge funds have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. purchased a new position in Lockheed Martin in the third quarter worth approximately $26,000. Millstone Evans Group LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at $32,000. Capital Performance Advisors LLP acquired a new stake in shares of Lockheed Martin in the 3rd quarter valued at $40,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Lockheed Martin during the 4th quarter worth $34,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin during the fourth quarter worth $35,000. 74.19% of the stock is owned by institutional investors and hedge funds.

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.