Lockheed Martin (NYSE:LMT) Shares Down 0% – What’s Next?

Lockheed Martin Co. (NYSE:LMT) shares fell 0% during mid-day trading on Tuesday . The stock traded as low as $519.39 and last traded at $521.83. 320,398 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 1,073,450 shares. The stock had previously closed at $521.89.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LMT shares. JPMorgan Chase & Co. lifted their price objective on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a report on Tuesday, September 3rd. Susquehanna lowered their price target on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday, October 23rd. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, UBS Group increased their target price on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Performance

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 firm’s 50 day moving average is $572.10 and its 200-day moving average is $528.17. The company has a market cap of $123.93 billion, a PE ratio of 18.89, a PEG ratio of 4.43 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $6.77 earnings per share. On average, research analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.52%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is currently 45.62%.

Institutional Investors Weigh In On Lockheed Martin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LMT. Waverly Advisors LLC increased its stake in shares of Lockheed Martin by 168.3% during the first quarter. Waverly Advisors LLC now owns 3,839 shares of the aerospace company’s stock worth $1,747,000 after buying an additional 2,408 shares during the period. B. Riley Wealth Advisors Inc. increased its holdings in Lockheed Martin by 9.2% in the first quarter. B. Riley Wealth Advisors Inc. now owns 17,313 shares of the aerospace company’s stock valued at $7,875,000 after buying an additional 1,453 shares during the last quarter. Tidal Investments LLC raised its stake in Lockheed Martin by 68.2% in the first quarter. Tidal Investments LLC now owns 15,696 shares of the aerospace company’s stock valued at $7,142,000 after buying an additional 6,362 shares in the last quarter. Comerica Bank lifted its holdings in Lockheed Martin by 12.4% during the 1st quarter. Comerica Bank now owns 78,572 shares of the aerospace company’s stock worth $35,740,000 after buying an additional 8,699 shares during the last quarter. Finally, Beacon Capital Management LLC boosted its position in shares of Lockheed Martin by 71.9% during the 1st quarter. Beacon Capital Management LLC now owns 385 shares of the aerospace company’s stock worth $175,000 after acquiring an additional 161 shares in the last quarter. Hedge funds and other 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.