Lockheed Martin (NYSE:LMT) Trading Down 4.3% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT)’s share price fell 4.3% during mid-day trading on Monday . The company traded as low as $519.08 and last traded at $519.08. 641,211 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 1,063,498 shares. The stock had previously closed at $542.22.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on LMT shares. Barclays upped their price objective on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research report on Tuesday, September 3rd. Bank of America reiterated a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. Citigroup increased their target price on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada lowered their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Price Performance

The stock has a market cap of $124.62 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 4.27 and a beta of 0.49. The stock’s fifty day moving average is $570.39 and its 200-day moving average is $528.52. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.77 EPS. As a group, equities analysts anticipate that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.51%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s payout ratio is 45.62%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position in shares of Lockheed Martin by 130.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after purchasing an additional 2,019 shares during the period. Bank of Montreal Can boosted its position in shares of Lockheed Martin by 2.1% during the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after buying an additional 13,253 shares during the period. Old West Investment Management LLC grew its stake in shares of Lockheed Martin by 6.6% in the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after buying an additional 1,643 shares in the last quarter. Buck Wealth Strategies LLC purchased a new stake in shares of Lockheed Martin in the 2nd quarter valued at $6,611,000. Finally, Empower Advisory Group LLC lifted its stake in Lockheed Martin by 9.1% during the 3rd quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock worth $12,870,000 after acquiring an additional 1,843 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

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.