Lockheed Martin (NYSE:LMT) Stock Price Down 0.5% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT)’s stock price was down 0.5% during mid-day trading on Friday . The stock traded as low as $513.55 and last traded at $514.83. Approximately 265,228 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 1,074,729 shares. The stock had previously closed at $517.48.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LMT. 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 research note on Thursday, October 10th. StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 23rd. Bank of America reiterated a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. Robert W. Baird boosted their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Finally, Barclays upped their target price on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Down 1.3 %

The firm’s 50-day moving average is $563.89 and its two-hundred day moving average is $530.36. The stock has a market cap of $121.12 billion, a P/E ratio of 18.64, a PEG ratio of 4.22 and a beta of 0.46. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $6.77 earnings per share. On average, equities research analysts anticipate that Lockheed Martin Co. will post 26.94 earnings per share for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.58%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s payout ratio is 47.79%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LMT. Itau Unibanco Holding S.A. acquired a new position in Lockheed Martin during the third quarter valued at approximately $26,000. Mattson Financial Services LLC bought a new stake in shares of Lockheed Martin in the 2nd quarter valued at $27,000. Sachetta LLC raised its stake in 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 during the period. Stephens Consulting LLC lifted its holdings in Lockheed Martin by 48.9% during the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 22 shares in the last quarter. Finally, Burkett Financial Services LLC acquired a new position in Lockheed Martin in the third quarter valued at about $32,000. 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.