Lockheed Martin (NYSE:LMT) Stock Price Down 1.1% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT)’s stock price fell 1.1% during mid-day trading on Wednesday . The stock traded as low as $557.24 and last traded at $559.90. 223,832 shares were traded during trading, a decline of 79% from the average session volume of 1,052,062 shares. The stock had previously closed at $565.96.

Wall Street Analysts Forecast Growth

LMT has been the topic of several research reports. Susquehanna lowered their price target on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday, October 23rd. TD Cowen raised their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird boosted their price target on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Barclays upped their target price on shares of Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Trading Down 3.4 %

The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The stock has a market cap of $127.77 billion, a P/E ratio of 19.52, a price-to-earnings-growth ratio of 4.56 and a beta of 0.49. The business’s fifty day simple moving average is $577.75 and its 200 day simple moving average is $523.80.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the prior year, the firm earned $6.77 earnings per share. Lockheed Martin’s revenue was up 1.3% compared to the same quarter last year. As a group, analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is currently 45.62%.

Institutional Investors Weigh In On Lockheed Martin

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LMT. Burkett Financial Services LLC bought a new stake in Lockheed Martin in the third quarter valued at approximately $32,000. Mattson Financial Services LLC acquired a new stake in Lockheed Martin during the 2nd quarter worth $27,000. Sachetta LLC lifted its holdings in Lockheed Martin by 50.0% during 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 lifted its holdings in shares of Lockheed Martin by 65.8% during the 1st 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 in the last quarter. Finally, Stephens Consulting LLC boosted its holdings in shares of Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after buying an additional 22 shares during the period. 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.