Lockheed Martin (NYSE:LMT) Trading Down 2.8% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT)’s share price fell 2.8% on Friday . The stock traded as low as $448.39 and last traded at $463.80. 3,051,557 shares were traded during mid-day trading, an increase of 145% from the average session volume of 1,243,241 shares. The stock had previously closed at $477.08.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LMT shares. Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price objective for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. Susquehanna cut their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Royal Bank of Canada downgraded shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Finally, Morgan Stanley upgraded Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 target price on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $539.93.

Lockheed Martin Trading Down 2.8 %

The firm has a market cap of $108.79 billion, a P/E ratio of 20.84, a P/E/G ratio of 2.07 and a beta of 0.39. The stock has a 50 day simple moving average of $451.95 and a 200-day simple moving average of $498.23. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last released its quarterly 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 net margin of 7.51% and a return on equity of 101.47%. On average, equities research analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were given a dividend of $3.30 per share. The ex-dividend date was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.85%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Insider Transactions at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the transaction, the insider now owns 2,000 shares of the company’s stock, valued at $884,840. This represents a 61.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction 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 of the company’s stock, valued at approximately $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. In the last 90 days, insiders sold 7,133 shares of company stock worth $3,155,916. 0.14% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LMT. Charles Schwab Investment Management Inc. increased its stake in shares of Lockheed Martin by 17.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after buying an additional 1,132,461 shares during the period. Geode Capital Management LLC increased its holdings in Lockheed Martin by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock valued at $2,374,557,000 after buying an additional 59,597 shares during the period. Northern Trust Corp raised its stake in Lockheed Martin by 6.3% in the fourth quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company’s stock worth $1,098,667,000 after buying an additional 134,662 shares in the last quarter. Invesco Ltd. boosted its position in Lockheed Martin by 17.5% during the 4th quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company’s stock valued at $1,035,989,000 after acquiring an additional 318,007 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Lockheed Martin by 41,104.9% during the first quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company’s stock valued at $889,593,000 after purchasing an additional 1,986,600 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other 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.