Lockheed Martin (NYSE:LMT) Shares Gap Down – Here’s Why

Lockheed Martin Co. (NYSE:LMT) gapped down before the market opened on Thursday . The stock had previously closed at $477.08, but opened at $461.64. Lockheed Martin shares last traded at $457.22, with a volume of 613,058 shares traded.

Analysts Set New Price Targets

Several equities research analysts have issued reports on LMT shares. StockNews.com lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Tuesday, April 1st. Citigroup reduced their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. JPMorgan Chase & Co. lowered their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Royal Bank of Canada lowered shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $550.00 to $480.00 in a report on Thursday, March 27th. Finally, Susquehanna cut their price target 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $539.93.

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 business has a 50 day moving average of $452.24 and a 200 day moving average of $497.25. The company has a market cap of $108.79 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating 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, research analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were given a dividend of $3.30 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.85%. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Insiders Place Their Bets

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the sale, the vice president now directly 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. Over the last 90 days, insiders sold 7,133 shares of company stock worth $3,155,916. 0.14% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds have recently bought and sold shares of the company. Millstone Evans Group LLC purchased a new stake in shares of Lockheed Martin during the fourth quarter valued at approximately $32,000. Mizuho Securities Co. Ltd. bought a new position in Lockheed Martin in the 4th quarter valued at approximately $34,000. Heck Capital Advisors LLC purchased a new stake in Lockheed Martin during the 4th quarter valued at $35,000. Redwood Park Advisors LLC bought a new stake in shares of Lockheed Martin in the 4th quarter worth $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of Lockheed Martin in the fourth quarter worth $42,000. 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.