Lockheed Martin (NYSE:LMT) Trading Down 1.6%

Shares of Lockheed Martin Co. (NYSE:LMT) dropped 1.6% during trading on Tuesday . The stock traded as low as $563.60 and last traded at $563.83. Approximately 211,500 shares changed hands during trading, a decline of 80% from the average daily volume of 1,053,214 shares. The stock had previously closed at $572.92.

Wall Street Analysts Forecast Growth

LMT has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price target on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Susquehanna increased their price target on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a research note on Wednesday, July 24th. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research report on Tuesday, September 3rd. Royal Bank of Canada raised Lockheed Martin from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $500.00 to $600.00 in a research note on Monday, August 5th. Finally, TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $480.00 to $560.00 in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $553.43.

Lockheed Martin Price Performance

The company’s 50-day moving average price is $537.11 and its two-hundred day moving average price is $485.28. The company has a market capitalization of $136.05 billion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 4.55 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same period last year, the firm earned $6.73 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, sell-side analysts expect that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.22%. Lockheed Martin’s payout ratio is 46.10%.

Insider Activity

In related news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Lockheed Martin

A number of hedge funds have recently made changes to their positions in the stock. Sachetta LLC raised its position in Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares during the last quarter. Wiser Advisor Group LLC increased its position in Lockheed Martin by 65.8% in the 1st 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 during the period. Edmond DE Rothschild Holding S.A. bought a new position in shares of Lockheed Martin during the first quarter valued at $30,000. Stephens Consulting LLC grew its stake in shares of Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of Lockheed Martin in the 2nd quarter worth approximately $35,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

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.