Lockheed Martin (NYSE:LMT) Shares Down 0.2% – Here’s Why

Lockheed Martin Co. (NYSE:LMT)’s share price fell 0.2% on Friday . The company traded as low as $534.07 and last traded at $537.67. 427,817 shares were traded during trading, a decline of 60% from the average session volume of 1,057,428 shares. The stock had previously closed at $538.99.

Analyst Upgrades and Downgrades

Several research analysts recently commented on LMT shares. Morgan Stanley boosted their target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. upped their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Robert W. Baird lifted their price target on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Royal Bank of Canada dropped their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, UBS Group lifted their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Stock Down 0.8 %

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 business has a 50 day moving average of $576.52 and a 200-day moving average of $524.37. The stock has a market cap of $126.78 billion, a PE ratio of 19.36, a P/E/G ratio of 4.56 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $6.77 EPS. Equities research analysts predict that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.47%. Lockheed Martin’s dividend payout ratio is 45.62%.

Hedge Funds Weigh In On Lockheed Martin

Several institutional investors have recently added to or reduced their stakes in LMT. GAMMA Investing LLC raised its stake in shares of Lockheed Martin by 130.0% during the second quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after purchasing an additional 2,019 shares during the last quarter. Old West Investment Management LLC increased its stake in Lockheed Martin by 6.6% in the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after buying an additional 1,643 shares during the period. Buck Wealth Strategies LLC purchased a new position in Lockheed Martin during the 2nd quarter worth $6,611,000. Empower Advisory Group LLC lifted its stake in shares of Lockheed Martin by 9.1% in the 3rd quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock worth $12,870,000 after acquiring an additional 1,843 shares during the period. Finally, Financial Enhancement Group LLC boosted its holdings in shares of Lockheed Martin by 2,268.3% in the third quarter. Financial Enhancement Group LLC now owns 10,444 shares of the aerospace company’s stock valued at $6,105,000 after acquiring an additional 10,003 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

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.