Lockheed Martin (NYSE:LMT) Trading Down 0.9% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT) traded down 0.9% during trading on Monday . The company traded as low as $519.30 and last traded at $521.56. 249,746 shares traded hands during trading, a decline of 77% from the average session volume of 1,071,744 shares. The stock had previously closed at $526.11.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Royal Bank of Canada reduced their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Barclays boosted their price objective on Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Bank of America reiterated a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a research report on Friday, August 30th. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. Finally, Melius Research upgraded Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. One 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Trading Down 0.8 %

The business’s 50-day simple moving average is $568.75 and its 200-day simple moving average is $529.80. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The company has a market cap of $123.70 billion, a PE ratio of 18.88, a P/E/G ratio of 4.32 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter last year, the firm earned $6.77 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, analysts expect that Lockheed Martin Co. will post 26.94 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

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

Institutional Trading of Lockheed Martin

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CVA Family Office LLC increased its holdings in shares of Lockheed Martin by 1.1% during the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after buying an additional 17 shares in the last quarter. AllGen Financial Advisors Inc. raised its position in Lockheed Martin by 4.0% in the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after purchasing an additional 18 shares during the last quarter. Salomon & Ludwin LLC increased its stake in shares of Lockheed Martin by 20.5% in the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock valued at $62,000 after buying an additional 18 shares during the period. Sunburst Financial Group LLC boosted its position in Lockheed Martin by 3.3% during the 3rd quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock worth $331,000 after buying an additional 18 shares during the period. Finally, Quad Cities Investment Group LLC grew its holdings in Lockheed Martin by 1.2% during the 3rd quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after acquiring an additional 19 shares during 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.