Lockheed Martin (NYSE:LMT) Shares Down 0.4% – Here’s What Happened

Shares of Lockheed Martin Co. (NYSE:LMT) fell 0.4% during mid-day trading on Monday . The company traded as low as $418.88 and last traded at $430.52. 522,874 shares traded hands during trading, a decline of 57% from the average session volume of 1,218,397 shares. The stock had previously closed at $432.15.

Analyst Ratings Changes

A number of research firms have recently commented on LMT. Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and cut their price objective for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Truist Financial assumed coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target for the company. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Lockheed Martin in a report on Monday, March 10th. StockNews.com cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Finally, Citigroup decreased their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of “Hold” and an average target price of $539.53.

Lockheed Martin Stock Performance

The stock has a market cap of $100.96 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 2.07 and a beta of 0.39. 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 firm has a fifty day moving average of $449.92 and a 200 day moving average of $504.66.

Lockheed Martin (NYSE:LMT) last issued 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 return on equity of 101.47% and a net margin of 7.51%. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were issued a $3.30 dividend. The ex-dividend date was Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 3.07%. Lockheed Martin’s payout ratio is 59.30%.

Insider Transactions at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the transaction, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction 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 completion of the sale, the insider now owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock worth $3,155,916 in the last 90 days. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

Hedge funds and other institutional investors have recently bought and sold shares of the company. Millstone Evans Group LLC purchased a new position in shares of Lockheed Martin in the 4th quarter valued at about $32,000. Mizuho Securities Co. Ltd. acquired a new stake in Lockheed Martin during the fourth quarter worth approximately $34,000. Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin during the 4th quarter worth approximately $35,000. Legacy Investment Solutions LLC acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at $42,000. Finally, Redwood Park Advisors LLC purchased a new position in shares of Lockheed Martin in the 4th quarter valued at $40,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

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.