Lockheed Martin (NYSE:LMT) Shares Gap Down – Should You Sell?

Lockheed Martin Co. (NYSE:LMT) shares gapped down before the market opened on Thursday . The stock had previously closed at $477.08, but opened at $461.64. Lockheed Martin shares last traded at $457.22, with a volume of 613,058 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Melius Research cut shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a report on Tuesday, April 1st. Truist Financial assumed coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective for the company. UBS Group dropped their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Finally, Susquehanna reduced their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research report on Wednesday, January 29th. One research 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $539.93.

Lockheed Martin Trading Down 2.8 %

The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The stock’s 50 day moving average price is $452.24 and its 200-day moving average price is $497.25. The stock has a market capitalization of $108.79 billion, a PE ratio of 20.84, a PEG ratio of 2.07 and a beta of 0.39.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating 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%. On average, sell-side 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 disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date was Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is currently 59.30%.

Insider Activity

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock worth $3,155,916 over the last quarter. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Lockheed Martin

Several large investors have recently bought and sold shares of the business. Millstone Evans Group LLC purchased a new position in shares of Lockheed Martin in the 4th quarter worth $32,000. Mizuho Securities Co. Ltd. purchased a new position in Lockheed Martin in the fourth quarter worth about $34,000. Heck Capital Advisors LLC bought a new stake in Lockheed Martin during the fourth quarter worth approximately $35,000. Redwood Park Advisors LLC purchased a new stake in Lockheed Martin during the fourth quarter valued at approximately $40,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Lockheed Martin in the 4th quarter valued at approximately $42,000. Institutional investors 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.