Lockheed Martin (NYSE:LMT) Shares Down 1.7% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT)’s stock price fell 1.7% on Wednesday . The company traded as low as $456.00 and last traded at $460.68. 389,471 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 1,117,611 shares. The stock had previously closed at $468.88.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on LMT shares. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price target for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Lockheed Martin in a research report on Monday. Citigroup dropped their target price on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Barclays decreased their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Finally, StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus target price of $554.20.

Lockheed Martin Trading Down 1.4 %

The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The firm has a market capitalization of $108.83 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 2.07 and a beta of 0.43. The company has a 50-day moving average price of $462.46 and a 200-day moving average price of $520.20.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, research analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be paid a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.86%. Lockheed Martin’s dividend payout ratio 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 firm’s 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 transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. This trade represents a 61.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the sale, the vice president now directly owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,133 shares of company stock worth $3,155,916. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of Lockheed Martin

Several hedge funds have recently modified their holdings of LMT. Platform Technology Partners boosted its position in shares of Lockheed Martin by 0.5% during the 3rd quarter. Platform Technology Partners now owns 4,122 shares of the aerospace company’s stock worth $2,409,000 after purchasing an additional 19 shares in the last quarter. Assetmark Inc. boosted its holdings in Lockheed Martin by 1.3% during the third quarter. Assetmark Inc. now owns 1,470 shares of the aerospace company’s stock worth $859,000 after buying an additional 19 shares in the last quarter. Vinva Investment Management Ltd grew its position in Lockheed Martin by 3.0% during the third quarter. Vinva Investment Management Ltd now owns 656 shares of the aerospace company’s stock worth $382,000 after buying an additional 19 shares during the period. Widmann Financial Services Inc. lifted its position in shares of Lockheed Martin by 2.1% during the 3rd quarter. Widmann Financial Services Inc. now owns 968 shares of the aerospace company’s stock valued at $566,000 after acquiring an additional 20 shares during the period. Finally, CFS Investment Advisory Services LLC boosted its stake in shares of Lockheed Martin by 2.0% during the 4th quarter. CFS Investment Advisory Services LLC now owns 1,091 shares of the aerospace company’s stock worth $530,000 after acquiring an additional 21 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

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.