Lockheed Martin (NYSE:LMT) Trading 0.7% Higher – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT)’s stock price rose 0.7% during mid-day trading on Monday . The company traded as high as $472.27 and last traded at $469.56. Approximately 285,689 shares changed hands during trading, a decline of 74% from the average daily volume of 1,102,425 shares. The stock had previously closed at $466.17.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LMT. Citigroup reduced their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and reduced their target price for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. decreased their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Royal Bank of Canada dropped their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Lockheed Martin in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $554.20.

Lockheed Martin Trading Up 0.8 %

The business has a fifty day simple moving average of $461.39 and a 200 day simple moving average of $518.19. The stock has a market cap of $110.59 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. As a group, equities analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company 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 dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Insider Buying and Selling

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the transaction, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in Lockheed Martin by 17.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after acquiring an additional 1,132,461 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Lockheed Martin by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock worth $2,374,557,000 after purchasing an additional 59,597 shares during the last quarter. FMR LLC raised its stake 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 valued at $1,981,088,000 after purchasing an additional 209,591 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Lockheed Martin by 8.5% during the third 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, Northern Trust Corp grew its stake in Lockheed Martin by 6.3% in the fourth quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company’s stock worth $1,098,667,000 after purchasing an additional 134,662 shares in the last quarter. 74.19% of the stock is 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.