Lockheed Martin (NYSE:LMT) Stock Price Down 2.5% – Here’s Why

Lockheed Martin Co. (NYSE:LMT) shares fell 2.5% during mid-day trading on Friday . The stock traded as low as $472.89 and last traded at $455.13. 906,562 shares were traded during trading, a decline of 18% from the average session volume of 1,107,328 shares. The stock had previously closed at $466.74.

Analyst Ratings Changes

Several research firms have issued reports on LMT. Susquehanna decreased their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research note on Wednesday, January 29th. UBS Group reduced their target price on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Barclays reduced their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Finally, Morgan Stanley reduced their target price on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $554.20.

Lockheed Martin Trading Down 6.7 %

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 firm’s 50 day simple moving average is $461.50 and its two-hundred day simple moving average is $516.12. The stock has a market cap of $102.48 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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%. As a group, equities research analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 3.03%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Insider Transactions at Lockheed Martin

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction dated Wednesday, February 26th. The shares were 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 owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction dated 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 transaction, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This represents a 23.69 % 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 worth $3,155,916. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Lockheed Martin

A number of institutional investors and hedge funds have recently bought and sold shares of LMT. M1 Capital Management LLC purchased a new stake in Lockheed Martin during the fourth quarter valued at about $235,000. DSG Capital Advisors LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter worth approximately $235,000. Chancellor Financial Group WB LP purchased a new stake in shares of Lockheed Martin in the fourth quarter worth approximately $209,000. 111 Capital purchased a new stake in shares of Lockheed Martin in the fourth quarter worth approximately $1,155,000. Finally, Thoma Capital Management LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter worth approximately $524,000. 74.19% of the stock is owned by institutional investors and hedge funds.

About Lockheed Martin

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.