Lockheed Martin (NYSE:LMT) Shares Up 0.6% – Here’s Why

Lockheed Martin Co. (NYSE:LMT)’s stock price traded up 0.6% during trading on Tuesday . The company traded as high as $450.20 and last traded at $449.46. 232,097 shares were traded during trading, a decline of 86% from the average session volume of 1,641,420 shares. The stock had previously closed at $446.71.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LMT. Royal Bank of Canada lowered shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and cut their target price for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. Melius downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a report on Monday, March 24th. JPMorgan Chase & Co. dropped their price objective on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Finally, Truist Financial started coverage on Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin presently has an average rating of “Hold” and a consensus target price of $539.53.

Lockheed Martin Stock Up 1.0 %

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’s 50-day moving average price is $453.52 and its two-hundred day moving average price is $507.80. The stock has a market capitalization of $106.24 billion, a PE ratio of 20.35, a P/E/G ratio of 2.07 and a beta of 0.39.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business 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. This represents a $13.20 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is 59.30%.

Insider Transactions at Lockheed Martin

In related 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 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 owns 2,000 shares of the company’s stock, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction that occurred 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 $1,008,265.58. This trade 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 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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtue Capital Management LLC raised its holdings 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 valued at $1,315,000 after purchasing an additional 1,192 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its position in Lockheed Martin by 51.7% in 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 purchasing an additional 3,247 shares during the period. Capital Investment Advisors LLC raised its stake 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 buying an additional 2,011 shares during the last quarter. Brady Martz Wealth Solutions LLC bought a new position in shares of Lockheed Martin during the 4th quarter valued at $1,266,000. Finally, World Investment Advisors LLC boosted its stake in shares of Lockheed Martin by 55.1% in the 3rd quarter. World Investment Advisors LLC now owns 6,468 shares of the aerospace company’s stock worth $3,781,000 after buying an additional 2,297 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

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.