Lockheed Martin (NYSE:LMT) Shares Down 0.4% – Should You Sell?

Shares of Lockheed Martin Co. (NYSE:LMT) traded down 0.4% on Wednesday . The company traded as low as $451.09 and last traded at $451.83. 214,820 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,388,067 shares. The stock had previously closed at $453.68.

Analysts Set New Price Targets

LMT has been the topic of several recent analyst reports. Citigroup reduced their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. JPMorgan Chase & Co. decreased their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Truist Financial initiated coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective on the stock. StockNews.com cut Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company cut their price target on Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus price target of $555.60.

Lockheed Martin Stock Down 0.9 %

The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The business has a fifty day simple moving average of $489.62 and a two-hundred day simple moving average of $537.03. The company has a market cap of $105.86 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 2.96 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping 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%. As a group, equities research analysts predict that Lockheed Martin Co. will post 27.29 earnings per share for the current year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.94%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s payout ratio is currently 59.30%.

Institutional Trading of Lockheed Martin

A number of hedge funds and other institutional investors have recently made changes to their positions in LMT. Geode Capital Management LLC lifted its stake in Lockheed Martin by 1.8% during the third quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock worth $2,816,898,000 after purchasing an additional 83,997 shares in the last quarter. FMR LLC grew its position in Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after acquiring an additional 209,591 shares in the last quarter. Wellington Management Group LLP increased its stake in Lockheed Martin by 8.5% during the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after purchasing an additional 240,306 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Lockheed Martin by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,743,757 shares of the aerospace company’s stock worth $847,361,000 after purchasing an additional 15,085 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Lockheed Martin by 60,592.0% in the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after purchasing an additional 1,556,609 shares during the period. Institutional investors and hedge funds 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.