Lockheed Martin (NYSE:LMT) Stock Price Down 2.3% – Here’s Why

Lockheed Martin Corporation (NYSE:LMT) fell 2.3% during trading on Friday . The stock traded as low as $456.20 and last traded at $457.9260. 2,312,998 shares were traded during mid-day trading, an increase of 46% from the average session volume of 1,589,485 shares. The stock had previously closed at $468.92.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LMT. UBS Group decreased their price objective on Lockheed Martin from $514.00 to $513.00 and set a “neutral” rating on the stock in a report on Wednesday, October 22nd. Robert W. Baird raised their price target on shares of Lockheed Martin from $500.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, October 6th. Vertical Research restated a “hold” rating and set a $460.00 price target on shares of Lockheed Martin in a research report on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft set a $519.00 price objective on shares of Lockheed Martin and gave the company a “hold” rating in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada raised their target price on shares of Lockheed Martin from $440.00 to $525.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $513.47.

Lockheed Martin Trading Down 2.3%

The company has a quick ratio of 0.97, a current ratio of 1.13 and a debt-to-equity ratio of 3.32. The company’s 50-day moving average is $483.98 and its 200-day moving average is $467.55. The stock has a market capitalization of $105.96 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 1.69 and a beta of 0.25.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share for the quarter, beating the consensus estimate of $6.33 by $0.62. The business had revenue of $18.61 billion during the quarter, compared to analysts’ expectations of $18.45 billion. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.84 EPS. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. Research analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 1st will be paid a dividend of $3.45 per share. This represents a $13.80 annualized dividend and a yield of 3.0%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.30. The ex-dividend date of this dividend is Monday, December 1st. Lockheed Martin’s payout ratio is 77.05%.

Insider Buying and Selling

In other Lockheed Martin news, COO John Frank A. St sold 7,792 shares of Lockheed Martin stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $491.04, for a total value of $3,826,183.68. Following the sale, the chief operating officer owned 1 shares in the company, valued at $491.04. The trade was a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.

Institutional Trading of Lockheed Martin

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC increased its holdings in Lockheed Martin by 5.0% in the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock valued at $1,941,000 after purchasing an additional 191 shares during the last quarter. Cerity Partners LLC lifted its stake in Lockheed Martin by 5.6% during the first quarter. Cerity Partners LLC now owns 156,183 shares of the aerospace company’s stock worth $69,768,000 after purchasing an additional 8,308 shares in the last quarter. Country Club Bank boosted its position in shares of Lockheed Martin by 2.8% during the first quarter. Country Club Bank now owns 4,446 shares of the aerospace company’s stock worth $1,963,000 after buying an additional 119 shares during the period. PYA Waltman Capital LLC grew its stake in shares of Lockheed Martin by 5.7% in the first quarter. PYA Waltman Capital LLC now owns 4,529 shares of the aerospace company’s stock valued at $2,023,000 after buying an additional 245 shares in the last quarter. Finally, SkyOak Wealth LLC grew its stake in shares of Lockheed Martin by 196.9% in the first quarter. SkyOak Wealth LLC now owns 1,422 shares of the aerospace company’s stock valued at $635,000 after buying an additional 943 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

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.