Lockheed Martin (NYSE:LMT) Stock Price Down 4.3% – What’s Next?

Lockheed Martin Co. (NYSE:LMT)’s stock price was down 4.3% during trading on Monday . The company traded as low as $519.08 and last traded at $519.08. Approximately 641,211 shares changed hands during trading, a decline of 40% from the average daily volume of 1,063,498 shares. The stock had previously closed at $542.22.

Analyst Ratings Changes

A number of analysts recently weighed in on LMT shares. Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Bank of America restated a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a research report on Friday, August 30th. Susquehanna reduced their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. Citigroup raised their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, UBS Group upped their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Stock Down 3.7 %

The stock has a market cap of $123.71 billion, a price-to-earnings ratio of 18.79, a price-to-earnings-growth ratio of 4.43 and a beta of 0.49. The firm’s fifty day moving average price is $573.12 and its two-hundred day moving average price is $527.79. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.77 earnings per share. Sell-side analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.53%. Lockheed Martin’s dividend payout ratio is presently 45.62%.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. bought a new stake in Lockheed Martin during the third quarter worth $26,000. Burkett Financial Services LLC bought a new stake in Lockheed Martin in the 3rd quarter worth about $32,000. Mattson Financial Services LLC purchased a new stake in Lockheed Martin in the 2nd quarter valued at about $27,000. Sachetta LLC lifted its position in shares of Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares in the last quarter. Finally, Wiser Advisor Group LLC grew its holdings in shares of Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 25 shares in the last quarter. Institutional investors and hedge funds 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.