Lockheed Martin (NYSE:LMT) Stock Price Down 1.3% – Here’s What Happened

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

Analyst Ratings Changes

A number of research analysts have commented on the company. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a report on Tuesday, September 3rd. Citigroup lifted their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. UBS Group boosted their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada reduced their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $612.29.

Lockheed Martin Stock Performance

The firm has a market capitalization of $115.71 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 4.05 and a beta of 0.46. The company has a 50-day moving average price of $536.20 and a 200-day moving average price of $533.96. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the previous year, the firm posted $6.77 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, equities research analysts forecast that Lockheed Martin Co. will post 26.88 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.70%. Lockheed Martin’s payout ratio is presently 47.79%.

Hedge Funds Weigh In On Lockheed Martin

Hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC grew its holdings in Lockheed Martin by 60,592.0% during the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after acquiring an additional 1,556,609 shares during the period. Wulff Hansen & CO. lifted its holdings in Lockheed Martin by 56,626.7% in the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after acquiring an additional 1,019,281 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Lockheed Martin by 124.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock valued at $263,561,000 after purchasing an additional 249,591 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after purchasing an additional 240,306 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of 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. 74.19% of the stock is currently 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.