Lockheed Martin (NYSE:LMT) Trading Down 3.5% – Should You Sell?

Lockheed Martin Co. (NYSE:LMT)’s share price dropped 3.5% during trading on Monday . The stock traded as low as $471.00 and last traded at $469.31. Approximately 787,256 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 1,322,778 shares. The stock had previously closed at $486.45.

Analyst Upgrades and Downgrades

LMT has been the topic of several research reports. Melius cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Wells Fargo & Company dropped their price target on shares of Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Bank of America lowered shares of Lockheed Martin from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $685.00 to $485.00 in a research note on Monday, March 24th. Melius Research lowered shares of Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. Finally, Robert W. Baird raised shares of Lockheed Martin from a “neutral” rating to an “outperform” rating and set a $540.00 price objective for the company in a research note on Wednesday, April 23rd. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $541.80.

Lockheed Martin Stock Down 4.3%

The business’s 50-day moving average price is $470.72 and its 200-day moving average price is $469.65. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The firm has a market capitalization of $109.04 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping analysts’ consensus estimates of $6.34 by $0.94. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. The firm had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. As a group, equities research analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be issued a $3.30 dividend. The ex-dividend date is Monday, June 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.84%. Lockheed Martin’s dividend payout ratio is currently 57.02%.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds have recently added to or reduced their stakes in the company. Asset Planning Services Inc. LA ADV increased its holdings in Lockheed Martin by 0.5% in the first quarter. Asset Planning Services Inc. LA ADV now owns 16,275 shares of the aerospace company’s stock worth $7,270,000 after buying an additional 75 shares during the last quarter. Cim Investment Management Inc. acquired a new position in Lockheed Martin during the first quarter valued at approximately $1,056,000. Modern Wealth Management LLC grew its holdings in Lockheed Martin by 170.9% during the first quarter. Modern Wealth Management LLC now owns 2,923 shares of the aerospace company’s stock valued at $1,306,000 after purchasing an additional 1,844 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Lockheed Martin by 36.5% during the first quarter. Jones Financial Companies Lllp now owns 117,063 shares of the aerospace company’s stock valued at $51,805,000 after purchasing an additional 31,323 shares during the last quarter. Finally, Silicon Valley Capital Partners grew its holdings in Lockheed Martin by 15.3% during the first quarter. Silicon Valley Capital Partners now owns 218 shares of the aerospace company’s stock valued at $96,000 after purchasing an additional 29 shares during the last quarter. Institutional investors and hedge funds 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.