Lockheed Martin (NYSE:LMT) Shares Down 1.1% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT)’s share price fell 1.1% during trading on Wednesday . The company traded as low as $557.24 and last traded at $559.90. 223,832 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 1,052,062 shares. The stock had previously closed at $565.96.

Analysts Set New Price Targets

A number of brokerages recently commented on LMT. TD Cowen raised their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. StockNews.com cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 23rd. Bank of America reissued a “buy” rating and set a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. Melius Research raised Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $611.00.

Lockheed Martin Trading Down 1.3 %

The company has a market cap of $132.46 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 4.63 and a beta of 0.49. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The company has a 50-day moving average of $578.09 and a 200 day moving average of $523.56.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the business posted $6.77 earnings per share. Analysts predict that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.36%. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is currently 45.62%.

Institutional Trading of Lockheed Martin

Several institutional investors have recently added to or reduced their stakes in the company. Avestar Capital LLC lifted its stake in Lockheed Martin by 5.2% in the third quarter. Avestar Capital LLC now owns 1,248 shares of the aerospace company’s stock worth $730,000 after purchasing an additional 62 shares during the last quarter. Brooklyn Investment Group lifted its stake in Lockheed Martin by 9.2% in the third quarter. Brooklyn Investment Group now owns 1,582 shares of the aerospace company’s stock worth $925,000 after purchasing an additional 133 shares during the last quarter. FMR LLC lifted its stake in Lockheed Martin by 6.6% in the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after purchasing an additional 209,591 shares during the last quarter. Patton Albertson Miller Group LLC bought a new stake in Lockheed Martin in the third quarter worth about $205,000. Finally, Qsemble Capital Management LP raised its stake in shares of Lockheed Martin by 64.8% during the third quarter. Qsemble Capital Management LP now owns 7,515 shares of the aerospace company’s stock valued at $4,393,000 after acquiring an additional 2,956 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

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.