Lockheed Martin (NYSE:LMT) Shares Down 1% – What’s Next?

Shares of Lockheed Martin Co. (NYSE:LMT) dropped 1% during mid-day trading on Monday . The company traded as low as $556.03 and last traded at $556.68. Approximately 266,214 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 1,051,221 shares. The stock had previously closed at $562.29.

Analyst Ratings Changes

LMT has been the subject of several recent research reports. Susquehanna dropped their price target on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday, October 23rd. Bank of America reaffirmed a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. Wells Fargo & Company boosted their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Barclays boosted their price target on Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a report on Tuesday, September 3rd. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Stock Performance

The stock’s 50-day moving average is $579.81 and its 200-day moving average is $516.93. The company has a current ratio of 1.30, a quick ratio of 1.07 and a debt-to-equity ratio of 2.66. The stock has a market cap of $131.23 billion, a price-to-earnings ratio of 20.01, a P/E/G ratio of 4.62 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.77 earnings per share. On average, analysts expect that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed 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 represents a $13.20 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 48.30%.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds have recently modified their holdings of the stock. Mattson Financial Services LLC acquired a new position in shares of Lockheed Martin during the second quarter worth $27,000. Sachetta LLC lifted its stake in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares in the last quarter. Wiser Advisor Group LLC boosted its holdings in Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after purchasing an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in Lockheed Martin during the 1st quarter valued at approximately $30,000. Finally, Stephens Consulting LLC increased its holdings in Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

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.