Lockheed Martin (NYSE:LMT) Stock Price Down 2.8% – Should You Sell?

Lockheed Martin Co. (NYSE:LMT)’s stock price dropped 2.8% during trading on Friday . The stock traded as low as $448.39 and last traded at $463.80. Approximately 3,051,557 shares changed hands during trading, an increase of 145% from the average daily volume of 1,243,241 shares. The stock had previously closed at $477.08.

Analyst Ratings Changes

A number of equities analysts have recently commented on LMT shares. Truist Financial started coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. UBS Group decreased their price objective on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $685.00 to $485.00 in a research note on Monday, March 24th. Susquehanna cut their price target on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. cut 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 note on Thursday, January 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $539.93.

Lockheed Martin Trading Down 2.8 %

The stock’s 50 day simple moving average is $451.95 and its two-hundred day simple moving average is $498.23. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. 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 announced its quarterly earnings data 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 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 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.85%. The ex-dividend date was Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Insider Buying and Selling at Lockheed Martin

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 2,000 shares of the company’s stock, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the sale, the vice president now owns 2,278 shares in the company, valued at $1,008,265.58. The trade was a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock valued at $3,155,916 in the last 90 days. 0.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lockheed Martin

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