Lockheed Martin (NYSE:LMT) Stock Price Down 0.2% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT) shares dropped 0.2% on Friday . The company traded as low as $440.25 and last traded at $441.40. Approximately 360,309 shares traded hands during trading, a decline of 68% from the average daily volume of 1,141,968 shares. The stock had previously closed at $442.28.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LMT. Wells Fargo & Company reiterated an “equal weight” rating on shares of Lockheed Martin in a report on Monday, March 10th. Morgan Stanley reduced their price target on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Royal Bank of Canada downgraded Lockheed Martin from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $550.00 to $480.00 in a report on Thursday. Barclays decreased their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Finally, Melius Research cut shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin has an average rating of “Hold” and an average target price of $539.53.

Lockheed Martin Trading Up 0.1 %

The firm has a market cap of $104.24 billion, a P/E ratio of 19.87, a P/E/G ratio of 2.07 and a beta of 0.43. The business’s 50-day moving average is $457.47 and its two-hundred day moving average is $511.67. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate 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, analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

Insider Activity

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the sale, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. The trade was a 23.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of 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 disclosure for this sale can be found here. Over 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 company insiders.

Institutional Investors Weigh In On Lockheed Martin

Several institutional investors have recently bought and sold shares of the stock. Proficio Capital Partners LLC raised its holdings in Lockheed Martin by 53,784.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock worth $600,412,000 after purchasing an additional 1,233,275 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Lockheed Martin by 17.9% during the 4th 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 purchasing an additional 1,132,461 shares during the period. Castlekeep Investment Advisors LLC bought a new position in Lockheed Martin during the fourth quarter valued at about $526,587,000. Leigh Baldwin & CO. LLC bought a new position in Lockheed Martin during the fourth quarter valued at about $451,985,000. Finally, Van ECK Associates Corp raised its position in Lockheed Martin by 1,239.6% in the fourth quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock worth $266,410,000 after acquiring an additional 507,312 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

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.