Lockheed Martin (NYSE:LMT) Shares Up 1.6% – Here’s Why

Lockheed Martin Co. (NYSE:LMT) shares were up 1.6% on Wednesday . The company traded as high as $451.20 and last traded at $449.11. Approximately 315,308 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 1,137,860 shares. The stock had previously closed at $442.07.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barclays decreased their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada lowered their target price on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Bank of America cut Lockheed Martin from a “buy” rating to a “neutral” rating and dropped their price target for the company from $685.00 to $485.00 in a research report on Monday. JPMorgan Chase & Co. lowered their price objective on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price objective for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $544.20.

Lockheed Martin Stock Performance

The company’s 50-day moving average price is $459.13 and its two-hundred day moving average price is $512.63. 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 stock has a market cap of $105.19 billion, a PE ratio of 20.07, a PEG ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. On average, equities research analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.95%. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

Insider Activity at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was 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 owns 2,000 shares of the company’s stock, valued at approximately $884,840. This represents a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction 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 90 days, insiders have sold 7,133 shares of company stock valued at $3,155,916. Insiders own 0.17% of the company’s stock.

Institutional Trading of Lockheed Martin

Several large investors have recently modified their holdings of LMT. Virtue Capital Management LLC grew its position in shares of Lockheed Martin by 112.8% in the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock worth $1,315,000 after buying an additional 1,192 shares during the last quarter. Hilltop Holdings Inc. lifted its stake in Lockheed Martin by 79.9% in the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after acquiring an additional 5,361 shares during the period. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in Lockheed Martin by 51.7% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock valued at $4,630,000 after acquiring an additional 3,247 shares in the last quarter. Capital Investment Advisors LLC increased its position in Lockheed Martin by 2.2% during the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after purchasing an additional 2,011 shares during the period. Finally, Brady Martz Wealth Solutions LLC bought a new position in Lockheed Martin in the 4th quarter worth $1,266,000. 74.19% of the stock is 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.