Lockheed Martin (NYSE:LMT) Stock Price Down 2.6% – Time to Sell?

Lockheed Martin Co. (NYSE:LMT)’s share price was down 2.6% on Thursday . The company traded as low as $448.39 and last traded at $464.88. Approximately 1,099,365 shares were traded during trading, a decline of 11% from the average daily volume of 1,234,198 shares. The stock had previously closed at $477.08.

Wall Street Analyst Weigh In

Several brokerages have commented on LMT. Citigroup lowered their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. UBS Group lowered their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. lowered their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Finally, Melius Research downgraded shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $539.93.

Lockheed Martin Stock Performance

The company has a 50-day moving average of $452.24 and a 200-day moving average of $497.25. The firm has a market capitalization of $108.79 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. 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 posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. On average, equities analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

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

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction 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 represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,133 shares of company stock valued at $3,155,916. 0.14% of the stock is currently owned by insiders.

Institutional Trading of Lockheed Martin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC grew its stake in Lockheed Martin by 28.5% in the first quarter. Cornerstone Wealth Management LLC now owns 3,687 shares of the aerospace company’s stock valued at $1,647,000 after acquiring an additional 817 shares during the period. Clarius Group LLC increased its stake in Lockheed Martin by 8.2% during the 1st quarter. Clarius Group LLC now owns 1,896 shares of the aerospace company’s stock valued at $847,000 after purchasing an additional 144 shares in the last quarter. Boomfish Wealth Group LLC raised its holdings in Lockheed Martin by 5.5% during the first quarter. Boomfish Wealth Group LLC now owns 5,221 shares of the aerospace company’s stock worth $2,332,000 after buying an additional 273 shares during the last quarter. Wendell David Associates Inc. lifted its stake in shares of Lockheed Martin by 3.0% in the first quarter. Wendell David Associates Inc. now owns 7,371 shares of the aerospace company’s stock valued at $3,293,000 after buying an additional 218 shares in the last quarter. Finally, Bell Bank grew its holdings in shares of Lockheed Martin by 6.5% during the first quarter. Bell Bank now owns 1,181 shares of the aerospace company’s stock valued at $528,000 after buying an additional 72 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Company Profile

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.