Lockheed Martin (NYSE:LMT) Stock Price Up 0.7% – Here’s Why

Lockheed Martin Co. (NYSE:LMT) rose 0.7% on Wednesday . The company traded as high as $475.69 and last traded at $472.40. Approximately 169,228 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 1,101,186 shares. The stock had previously closed at $469.28.

Analyst Ratings Changes

Several brokerages have weighed in on LMT. UBS Group dropped their price objective on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Susquehanna cut their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research report on Wednesday, January 29th. Barclays reduced their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company restated an “equal weight” rating on shares of Lockheed Martin in a research report on Monday, March 10th. Finally, 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 report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus target price of $554.20.

Lockheed Martin Price Performance

The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The company has a fifty day moving average of $461.50 and a 200 day moving average of $516.12. The firm has a market capitalization of $112.80 billion, a P/E ratio of 21.43, a PEG ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Sell-side analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.75%. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Insiders Place Their Bets

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. The trade was a 23.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the sale, the insider now owns 2,000 shares of the company’s stock, valued at approximately $884,840. This represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,133 shares of company stock valued at $3,155,916. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds and other institutional investors have recently modified their holdings of LMT. Itau Unibanco Holding S.A. bought a new position in Lockheed Martin during the third quarter valued at about $26,000. Millstone Evans Group LLC purchased a new position in Lockheed Martin in the fourth quarter valued at about $32,000. Mizuho Securities Co. Ltd. bought a new position in shares of Lockheed Martin during the 4th quarter valued at approximately $34,000. Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin during the 4th quarter worth approximately $35,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Lockheed Martin in the 3rd quarter worth approximately $42,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

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.