Lockheed Martin (NYSE:LMT) Trading Up 0.4% – Here’s What Happened

Shares of Lockheed Martin Co. (NYSE:LMT) rose 0.4% during mid-day trading on Tuesday . The company traded as high as $439.35 and last traded at $436.64. Approximately 322,640 shares were traded during trading, a decline of 72% from the average daily volume of 1,138,119 shares. The stock had previously closed at $434.98.

Wall Street Analyst Weigh In

LMT has been the topic of several research analyst reports. Truist Financial initiated coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective on the stock. Citigroup reduced 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. Royal Bank of Canada cut shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $550.00 to $480.00 in a research report on Thursday. 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. Finally, JPMorgan Chase & Co. lowered their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin currently has an average rating of “Hold” and an average price target of $539.53.

Lockheed Martin Stock Down 0.8 %

The business’s fifty day moving average price is $458.36 and its two-hundred day moving average price is $512.16. 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 market capitalization of $104.00 billion, a P/E ratio of 19.84, a PEG ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping 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%. Equities analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s payout ratio is currently 59.30%.

Insiders Place Their Bets

In other news, 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 transaction of $1,421,495.46. Following the completion of the sale, 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 filing with the SEC, which is accessible through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were 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. The trade was a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,133 shares of company stock valued at $3,155,916. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

A number of institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC lifted its holdings in shares of Lockheed Martin by 42.9% in the 3rd quarter. Larson Financial Group LLC now owns 630 shares of the aerospace company’s stock valued at $368,000 after buying an additional 189 shares during the period. Fisher Asset Management LLC raised its position in Lockheed Martin by 0.9% during the third quarter. Fisher Asset Management LLC now owns 6,742 shares of the aerospace company’s stock valued at $3,941,000 after acquiring an additional 61 shares in the last quarter. Patton Albertson Miller Group LLC acquired a new position in Lockheed Martin in the third quarter valued at approximately $205,000. FMR LLC boosted its position in Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after purchasing an additional 209,591 shares in the last quarter. Finally, Avestar Capital LLC grew its stake in shares of Lockheed Martin by 5.2% during the 3rd quarter. Avestar Capital LLC now owns 1,248 shares of the aerospace company’s stock worth $730,000 after purchasing an additional 62 shares during the period. 74.19% of the stock is owned by hedge funds and other 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.