Lockheed Martin (NYSE:LMT) Stock Price Down 0.5% – Time to Sell?

Lockheed Martin Co. (NYSE:LMT) shares were down 0.5% on Wednesday . The company traded as low as $529.50 and last traded at $530.54. Approximately 187,951 shares were traded during trading, a decline of 82% from the average daily volume of 1,060,005 shares. The stock had previously closed at $533.26.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Bank of America reaffirmed a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. Susquehanna decreased their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday, October 23rd. Morgan Stanley increased their price target 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. UBS Group lifted their price objective on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada cut their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $611.00.

Lockheed Martin Stock Performance

The business has a 50-day moving average price of $573.68 and a 200-day moving average price of $526.39. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The firm has a market capitalization of $128.68 billion, a price-to-earnings ratio of 19.66, a P/E/G ratio of 4.36 and a beta of 0.49.

Lockheed Martin (NYSE:LMT) last announced its earnings results 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. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. During the same period in the prior year, the company posted $6.77 EPS. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.43%. The ex-dividend date is Monday, December 2nd. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s payout ratio is currently 47.79%.

Institutional Investors Weigh In On Lockheed Martin

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Fulcrum Equity Management raised its stake in Lockheed Martin by 4.7% in the 3rd quarter. Fulcrum Equity Management now owns 900 shares of the aerospace company’s stock worth $526,000 after acquiring an additional 40 shares during the last quarter. Anchor Investment Management LLC raised its stake in shares of Lockheed Martin by 8.4% in the third quarter. Anchor Investment Management LLC now owns 4,125 shares of the aerospace company’s stock worth $2,411,000 after purchasing an additional 320 shares during the last quarter. Tudor Financial Inc. acquired a new stake in shares of Lockheed Martin during the third quarter worth about $557,000. Old West Investment Management LLC boosted its position in Lockheed Martin by 6.6% in the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after buying an additional 1,643 shares during the last quarter. Finally, Second Line Capital LLC acquired a new position in Lockheed Martin in the 3rd quarter worth approximately $202,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

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.