Lockheed Martin (NYSE:LMT) Stock Price Down 0.8% – Here’s Why

Lockheed Martin Co. (NYSE:LMT) shares traded down 0.8% during trading on Thursday . The company traded as low as $477.31 and last traded at $479.24. 333,482 shares were traded during mid-day trading, a decline of 69% from the average session volume of 1,084,587 shares. The stock had previously closed at $482.94.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LMT. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research report on Tuesday, September 3rd. Barclays upped their price target on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Susquehanna lowered their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft increased their price target on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, TD Cowen boosted their price objective on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and an average target price of $612.29.

Lockheed Martin Stock Performance

The stock has a market capitalization of $115.91 billion, a PE ratio of 17.71, a price-to-earnings-growth ratio of 4.13 and a beta of 0.46. The business’s fifty day moving average is $541.05 and its two-hundred day moving average is $532.79. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The firm had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $6.77 EPS. As a group, research analysts anticipate that Lockheed Martin Co. will post 26.88 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.70%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 47.79%.

Institutional Investors Weigh In On Lockheed Martin

Institutional investors have recently made changes to their positions in the company. Lantz Financial LLC boosted its stake in shares of Lockheed Martin by 2.6% during the second quarter. Lantz Financial LLC now owns 4,882 shares of the aerospace company’s stock valued at $2,281,000 after purchasing an additional 123 shares during the period. Family Firm Inc. purchased a new position in shares of Lockheed Martin during the second quarter worth approximately $70,000. Atlantic Union Bankshares Corp raised its stake in shares of Lockheed Martin by 206.1% during the second quarter. Atlantic Union Bankshares Corp now owns 2,170 shares of the aerospace company’s stock valued at $1,014,000 after acquiring an additional 1,461 shares in the last quarter. Optas LLC purchased a new stake in shares of Lockheed Martin in the second quarter valued at approximately $234,000. Finally, Independence Bank of Kentucky raised its position in Lockheed Martin by 4.8% during the 2nd quarter. Independence Bank of Kentucky now owns 2,509 shares of the aerospace company’s stock valued at $1,172,000 after purchasing an additional 115 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

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.