Lockheed Martin (NYSE:LMT) Stock Price Up 0.7% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT)’s share price was up 0.7% on Friday . The company traded as high as $470.74 and last traded at $466.89. Approximately 286,556 shares were traded during trading, a decline of 77% from the average daily volume of 1,234,115 shares. The stock had previously closed at $463.70.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LMT shares. Wells Fargo & Company cut their target price on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Truist Financial initiated coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective for the company. Royal Bank of Canada downgraded shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Melius cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $536.60.

Lockheed Martin Stock Up 2.5 %

The company has a market capitalization of $111.45 billion, a P/E ratio of 21.34, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. The company has a 50-day moving average of $450.03 and a two-hundred day moving average of $500.71. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. On average, research analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

Insiders Place Their Bets

In related news, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the sale, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the sale, 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. In the last 90 days, insiders sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is owned by insiders.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds have recently modified their holdings of LMT. CFS Investment Advisory Services LLC boosted its holdings in shares of Lockheed Martin by 2.0% during the 4th quarter. CFS Investment Advisory Services LLC now owns 1,091 shares of the aerospace company’s stock valued at $530,000 after purchasing an additional 21 shares during the last quarter. Wynn Capital LLC boosted its stake in Lockheed Martin by 1.0% during the fourth quarter. Wynn Capital LLC now owns 2,185 shares of the aerospace company’s stock valued at $1,062,000 after buying an additional 22 shares during the last quarter. PBMares Wealth Management LLC grew its holdings in Lockheed Martin by 0.6% during the 4th quarter. PBMares Wealth Management LLC now owns 3,745 shares of the aerospace company’s stock valued at $1,820,000 after buying an additional 22 shares in the last quarter. Nvwm LLC increased its stake in Lockheed Martin by 2.5% in the 4th quarter. Nvwm LLC now owns 908 shares of the aerospace company’s stock worth $441,000 after acquiring an additional 22 shares during the last quarter. Finally, Schear Investment Advisers LLC raised its holdings in shares of Lockheed Martin by 2.0% during the 4th quarter. Schear Investment Advisers LLC now owns 1,147 shares of the aerospace company’s stock worth $557,000 after acquiring an additional 22 shares in the last quarter. 74.19% of the stock is currently owned by 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.