Lockheed Martin (NYSE:LMT) Stock Price Down 1.5% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT)’s stock price traded down 1.5% on Friday . The company traded as low as $446.32 and last traded at $447.91. 641,201 shares changed hands during trading, a decline of 47% from the average session volume of 1,213,739 shares. The stock had previously closed at $454.78.

Analysts Set New Price Targets

Several research firms recently issued reports on LMT. Melius downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Bank of America downgraded shares of Lockheed Martin from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $685.00 to $485.00 in a research report on Monday, March 24th. Truist Financial assumed coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target on the stock. StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a report on Tuesday, April 1st. Finally, Susquehanna dropped their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Lockheed Martin has an average rating of “Hold” and an average target price of $539.53.

Lockheed Martin Stock Performance

The company’s 50-day moving average is $451.38 and its two-hundred day moving average is $506.03. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The company has a market cap of $101.50 billion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Equities analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were paid a $3.30 dividend. The ex-dividend date was Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 3.05%. Lockheed Martin’s payout ratio is presently 59.30%.

Insider Activity

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the sale, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the 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 transaction, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock valued at $3,155,916 in the last 90 days. Insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Millstone Evans Group LLC bought a new position in shares of Lockheed Martin in the fourth quarter worth $32,000. Mizuho Securities Co. Ltd. purchased a new stake in Lockheed Martin during the 4th quarter worth about $34,000. Heck Capital Advisors LLC bought a new position in Lockheed Martin in the 4th quarter worth about $35,000. Redwood Park Advisors LLC purchased a new position in Lockheed Martin during the 4th quarter valued at about $40,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Lockheed Martin during the third quarter valued at about $42,000. 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.