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

Shares of Lockheed Martin Co. (NYSE:LMT) gapped down before the market opened on Monday . The stock had previously closed at $439.70, but opened at $425.63. Lockheed Martin shares last traded at $435.12, with a volume of 501,598 shares traded.

Analyst Ratings Changes

Several research analysts have weighed in on LMT shares. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their target price for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. UBS Group lowered their price objective on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. Bank of America lowered shares of Lockheed Martin from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $685.00 to $485.00 in a research note on Monday. Barclays lowered their price objective on shares of 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, JPMorgan Chase & Co. lowered their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $544.20.

Lockheed Martin Trading Down 1.4 %

The business’s fifty day simple moving average is $460.94 and its two-hundred day simple moving average is $514.45. The company has a market cap of $102.00 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 2.07 and a beta of 0.43. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last released 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%. On average, equities analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company 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 is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 3.05%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value 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. The trade was a 61.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the sale, the vice president now owns 2,278 shares in the company, valued at $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. In the last three months, insiders have sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lockheed Martin

Several institutional investors and hedge funds have recently made changes to their positions in the business. Proficio Capital Partners LLC lifted its holdings in Lockheed Martin by 53,784.3% in the 4th quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock valued at $600,412,000 after purchasing an additional 1,233,275 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Lockheed Martin by 17.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after purchasing an additional 1,132,461 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in Lockheed Martin during the 4th quarter worth approximately $526,587,000. Leigh Baldwin & CO. LLC acquired a new stake in Lockheed Martin during the 4th quarter worth approximately $451,985,000. Finally, Van ECK Associates Corp increased its position in Lockheed Martin by 1,239.6% during the 4th quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock worth $266,410,000 after purchasing an additional 507,312 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other 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.