Lockheed Martin (NYSE:LMT) Stock Price Down 0.7% – Here’s Why

Shares of Lockheed Martin Co. (NYSE:LMT) traded down 0.7% on Monday . The company traded as low as $531.19 and last traded at $531.19. 163,867 shares were traded during mid-day trading, a decline of 85% from the average session volume of 1,059,383 shares. The stock had previously closed at $534.83.

Analyst Upgrades and Downgrades

Several brokerages have commented on LMT. Deutsche Bank Aktiengesellschaft lifted their price target on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Citigroup lifted their price target on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Melius Research raised Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Susquehanna decreased their price objective on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their price objective on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Trading Down 0.7 %

The company has a 50-day simple moving average of $576.52 and a 200-day simple moving average of $525.23. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The stock has a market cap of $125.92 billion, a P/E ratio of 19.23, a P/E/G ratio of 4.37 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $17.38 billion. During the same quarter in the previous year, the company posted $6.77 EPS. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, sell-side analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.48%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is presently 47.79%.

Institutional Investors Weigh In On Lockheed Martin

A number of institutional investors and hedge funds have recently made changes to their positions in LMT. Itau Unibanco Holding S.A. bought a new stake in Lockheed Martin in the third quarter valued at about $26,000. Burkett Financial Services LLC acquired a new position in Lockheed Martin during the third quarter valued at approximately $32,000. Mattson Financial Services LLC acquired a new position in Lockheed Martin during the second quarter valued at approximately $27,000. Sachetta LLC increased its stake in shares of Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the period. Finally, Wiser Advisor Group LLC increased its stake in shares of Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares during the period. 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.