Lockheed Martin (NYSE:LMT) Trading Down 1.7% – What’s Next?

Shares of Lockheed Martin Co. (NYSE:LMT) fell 1.7% on Monday . The company traded as low as $424.30 and last traded at $432.11. 1,119,906 shares were traded during mid-day trading, a decline of 1% from the average session volume of 1,131,284 shares. The stock had previously closed at $439.70.

Analyst Upgrades and Downgrades

LMT has been the subject of a number of analyst reports. Truist Financial started coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target for the company. StockNews.com lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. UBS Group cut their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Royal Bank of Canada lowered their price objective on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. decreased their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $544.20.

Lockheed Martin Trading Down 1.7 %

The firm has a fifty day moving average of $460.94 and a 200-day moving average of $514.45. The stock has a market capitalization of $101.79 billion, a price-to-earnings ratio of 19.42, a P/E/G ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13.

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

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the sale, the vice president now owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock worth $3,155,916 in the last ninety days. 0.17% of the stock is owned by insiders.

Hedge Funds Weigh In On Lockheed Martin

Several hedge funds and other institutional investors have recently made changes to their positions in LMT. Itau Unibanco Holding S.A. bought a new stake in shares of Lockheed Martin during the 3rd quarter worth about $26,000. Millstone Evans Group LLC acquired a new position in Lockheed Martin in the 4th quarter worth approximately $32,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Lockheed Martin during the fourth quarter valued at $34,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin during the 4th quarter valued at about $35,000. Finally, Legacy Investment Solutions LLC acquired a new position in Lockheed Martin in the 3rd quarter valued at approximately $42,000. 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.