Lockheed Martin (NYSE:LMT) Trading 0.7% Higher – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT)’s stock price traded up 0.7% on Monday . The company traded as high as $472.27 and last traded at $469.56. 285,689 shares traded hands during trading, a decline of 74% from the average session volume of 1,102,425 shares. The stock had previously closed at $466.17.

Analysts Set New Price Targets

Several analysts recently issued reports on LMT shares. Royal Bank of Canada cut their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Barclays cut their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Truist Financial started coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. Morgan Stanley decreased their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Lockheed Martin in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $554.20.

Lockheed Martin Stock Performance

The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The firm has a 50 day moving average of $461.39 and a 200-day moving average of $518.19. The stock has a market capitalization of $110.59 billion, a PE ratio of 21.11, a P/E/G 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 (EPS) for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Research analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

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 issued 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 2.81%. Lockheed Martin’s dividend payout ratio is 59.30%.

Insider Activity at Lockheed Martin

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 transaction, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the company’s 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 transaction, the vice president now directly 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. In the last quarter, insiders sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lockheed Martin

Several large investors have recently modified their holdings of LMT. Vinva Investment Management Ltd raised its stake in shares of Lockheed Martin by 3.0% in the third quarter. Vinva Investment Management Ltd now owns 656 shares of the aerospace company’s stock valued at $382,000 after buying an additional 19 shares during the period. Widmann Financial Services Inc. raised its stake in Lockheed Martin by 2.1% in the 3rd quarter. Widmann Financial Services Inc. now owns 968 shares of the aerospace company’s stock valued at $566,000 after acquiring an additional 20 shares during the period. CFS Investment Advisory Services LLC lifted its holdings in Lockheed Martin by 2.0% during the fourth quarter. CFS Investment Advisory Services LLC now owns 1,091 shares of the aerospace company’s stock valued at $530,000 after purchasing an additional 21 shares during the last quarter. Crewe Advisors LLC boosted its position in Lockheed Martin by 4.5% during the third quarter. Crewe Advisors LLC now owns 515 shares of the aerospace company’s stock worth $301,000 after purchasing an additional 22 shares during the period. Finally, Wynn Capital LLC increased its stake in shares of Lockheed Martin by 1.0% in the fourth quarter. Wynn Capital LLC now owns 2,185 shares of the aerospace company’s stock worth $1,062,000 after purchasing an additional 22 shares in the last quarter. 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.