Lockheed Martin (NYSE:LMT) Shares Down 0%

Shares of Lockheed Martin Co. (NYSE:LMT) traded down 0% during mid-day trading on Wednesday . The company traded as low as $556.75 and last traded at $556.76. 158,945 shares traded hands during trading, a decline of 85% from the average session volume of 1,077,481 shares. The stock had previously closed at $557.01.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LMT. StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Barclays upped their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Bank of America upgraded Lockheed Martin from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $465.00 to $635.00 in a research note on Wednesday, July 31st. Wells Fargo & Company increased their price target on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Finally, Morgan Stanley raised their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $541.85.

Lockheed Martin Stock Performance

The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The business has a 50 day moving average price of $504.16 and a two-hundred day moving average price of $468.79. The stock has a market cap of $133.17 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 4.40 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The business had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The company’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $6.73 EPS. As a group, equities research analysts forecast that Lockheed Martin Co. will post 26.71 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a $3.15 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a dividend yield of 2.27%. Lockheed Martin’s dividend payout ratio is 46.10%.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.17% of the stock is owned by insiders.

Institutional Investors Weigh In On Lockheed Martin

Institutional investors have recently made changes to their positions in the company. GUNN & Co INVESTMENT MANAGEMENT INC. increased its holdings in Lockheed Martin by 1,454.4% during the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 80,329 shares of the aerospace company’s stock valued at $36,408,000 after buying an additional 75,161 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of Lockheed Martin during the 4th quarter valued at about $206,000. Larson Financial Group LLC grew its stake in shares of Lockheed Martin by 364.0% during the 4th quarter. Larson Financial Group LLC now owns 116 shares of the aerospace company’s stock valued at $53,000 after acquiring an additional 91 shares during the period. Harvest Fund Management Co. Ltd grew its stake in shares of Lockheed Martin by 241.9% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 547 shares of the aerospace company’s stock valued at $248,000 after acquiring an additional 387 shares during the period. Finally, Carret Asset Management LLC raised its stake in Lockheed Martin by 8.4% during the 4th quarter. Carret Asset Management LLC now owns 1,816 shares of the aerospace company’s stock worth $823,000 after acquiring an additional 141 shares during the period. Hedge funds and other institutional investors 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.