Lockheed Martin (NYSE:LMT) Shares Down 0% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT) shares dropped 0% on Wednesday . The stock traded as low as $445.01 and last traded at $448.57. Approximately 139,456 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 1,205,646 shares. The stock had previously closed at $448.64.

Analyst Ratings Changes

LMT has been the topic of a number of recent analyst reports. Royal Bank of Canada lowered Lockheed Martin from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $550.00 to $480.00 in a research note on Thursday, March 27th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Lockheed Martin in a research report on Monday, March 10th. UBS Group lowered their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Citigroup cut their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and decreased their target price for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin has a consensus rating of “Hold” and an average price target of $539.53.

Lockheed Martin Trading Up 1.1 %

The firm has a fifty day moving average of $454.45 and a 200-day moving average of $508.19. 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 capitalization of $106.79 billion, a price-to-earnings ratio of 20.38, a P/E/G ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating 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, equities analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were given a dividend of $3.30 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.91%. Lockheed Martin’s payout ratio is currently 59.30%.

Insider Activity

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s 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 in the company, valued at $884,840. This trade represents a 61.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin 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 sale, the vice president now owns 2,278 shares in the company, valued at $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LMT. Virtue Capital Management LLC lifted its position in shares of Lockheed Martin by 112.8% during the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock worth $1,315,000 after purchasing an additional 1,192 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in Lockheed Martin by 51.7% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock worth $4,630,000 after buying an additional 3,247 shares during the last quarter. Capital Investment Advisors LLC grew its position in shares of Lockheed Martin by 2.2% in the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock worth $44,770,000 after acquiring an additional 2,011 shares in the last quarter. Brady Martz Wealth Solutions LLC bought a new stake in shares of Lockheed Martin in the 4th quarter valued at approximately $1,266,000. Finally, World Investment Advisors LLC raised its position in shares of Lockheed Martin by 55.1% during the 3rd quarter. World Investment Advisors LLC now owns 6,468 shares of the aerospace company’s stock valued at $3,781,000 after acquiring an additional 2,297 shares in the last quarter. 74.19% of the stock is currently owned by 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.