Lockheed Martin (NYSE:LMT) Stock Price Down 0.9% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT) shares fell 0.9% on Monday . The stock traded as low as $519.30 and last traded at $521.56. 249,746 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 1,071,744 shares. The stock had previously closed at $526.11.

Analyst Ratings Changes

A number of brokerages have commented on LMT. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada lowered their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Susquehanna cut their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday, October 23rd. Barclays raised their price target on Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Trading Down 0.3 %

The stock has a market capitalization of $122.15 billion, a P/E ratio of 18.71, a P/E/G ratio of 4.25 and a beta of 0.46. 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 stock’s 50 day moving average price is $566.31 and its 200-day moving average price is $530.55.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $6.77 EPS. As a group, equities research analysts expect that Lockheed Martin Co. will post 26.94 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently declared 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 dividend yield of 2.56%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s dividend payout ratio is presently 47.79%.

Institutional Investors Weigh In On Lockheed Martin

Several institutional investors have recently bought and sold shares of LMT. Itau Unibanco Holding S.A. acquired a new position in Lockheed Martin during the 3rd quarter valued at about $26,000. Burkett Financial Services LLC acquired a new position in shares of Lockheed Martin during the third quarter valued at about $32,000. Mattson Financial Services LLC acquired a new position in shares of Lockheed Martin during the second quarter valued at about $27,000. Sachetta LLC boosted its stake in Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares in the last quarter. Finally, Stephens Consulting LLC grew its position in Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares during the last quarter. 74.19% of the stock is currently 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.