Lockheed Martin (NYSE:LMT) Stock Price Down 0.5% – Here’s Why

Lockheed Martin Co. (NYSE:LMT)’s share price fell 0.5% during mid-day trading on Friday . The company traded as low as $513.55 and last traded at $514.83. 265,228 shares were traded during trading, a decline of 75% from the average session volume of 1,074,729 shares. The stock had previously closed at $517.48.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Barclays boosted their price objective on Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Susquehanna lowered their price objective on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research note on Wednesday, October 23rd. UBS Group boosted their target price on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $611.00.

Lockheed Martin Stock Performance

The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The company has a market capitalization of $121.61 billion, a PE ratio of 18.57, a PEG ratio of 4.22 and a beta of 0.46. The firm’s 50-day simple moving average is $562.51 and its 200-day simple moving average is $531.12.

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 firm had revenue of $17.10 billion during 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%. Lockheed Martin’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.77 earnings per share. On average, research analysts predict that Lockheed Martin Co. will post 26.94 earnings per share for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a $3.30 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Monday, December 2nd. Lockheed Martin’s payout ratio is presently 47.79%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. bought a new position in shares of Lockheed Martin during the third quarter valued at approximately $26,000. Mattson Financial Services LLC purchased a new stake in Lockheed Martin during the second quarter worth $27,000. Sachetta LLC boosted its position in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares in the last quarter. Stephens Consulting LLC increased its holdings in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 22 shares during the period. Finally, Burkett Financial Services LLC bought a new position in shares of Lockheed Martin in the 3rd quarter worth $32,000. 74.19% of the stock is currently owned by 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.