Lockheed Martin (NYSE:LMT) Shares Down 0% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT)’s stock price was down 0% during mid-day trading on Tuesday . The stock traded as low as $519.39 and last traded at $521.83. Approximately 320,398 shares changed hands during trading, a decline of 70% from the average daily volume of 1,073,450 shares. The stock had previously closed at $521.89.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Morgan Stanley raised their target price on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Melius raised 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. Deutsche Bank Aktiengesellschaft raised their price objective on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Bank of America reissued a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Up 0.8 %

The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The firm has a 50 day simple moving average of $570.39 and a two-hundred day simple moving average of $528.52. The company has a market capitalization of $124.62 billion, a PE ratio of 19.03, a P/E/G ratio of 4.27 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data 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. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the previous year, the company posted $6.77 EPS. Lockheed Martin’s revenue was up 1.3% compared to the same quarter last year. Research analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.51%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is presently 45.62%.

Hedge Funds Weigh In On Lockheed Martin

Several institutional investors and hedge funds have recently added to or reduced their stakes in LMT. Itau Unibanco Holding S.A. purchased a new position in Lockheed Martin in the third quarter worth $26,000. Mattson Financial Services LLC purchased a new position in shares of Lockheed Martin in the 2nd quarter valued at about $27,000. Sachetta LLC lifted its stake in shares of 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 period. Stephens Consulting LLC boosted 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 buying an additional 22 shares in the last quarter. Finally, Burkett Financial Services LLC acquired a new position in Lockheed Martin during the third quarter worth about $32,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

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.