Lockheed Martin (NYSE:LMT) Trading Down 1.7% – Time to Sell?

Lockheed Martin Co. (NYSE:LMT)’s share price traded down 1.7% during mid-day trading on Wednesday . The stock traded as low as $456.00 and last traded at $460.68. 389,471 shares traded hands during trading, a decline of 65% from the average session volume of 1,117,611 shares. The stock had previously closed at $468.88.

Analyst Upgrades and Downgrades

LMT has been the topic of several recent research reports. Morgan Stanley reduced their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Susquehanna reduced their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. reduced 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. Truist Financial started coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. Finally, StockNews.com cut Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $554.20.

Lockheed Martin Trading Down 1.4 %

The business’s 50-day moving average is $462.46 and its two-hundred day moving average is $520.20. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The stock has a market capitalization of $108.83 billion, a PE ratio of 20.76, a PEG ratio of 2.07 and a beta of 0.43.

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

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.86%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Insider Buying and Selling at Lockheed Martin

In other news, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. This represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock valued at $3,155,916 in the last ninety days. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

Several large investors have recently added to or reduced their stakes in LMT. Assetmark Inc. raised its stake in Lockheed Martin by 1.3% during the third quarter. Assetmark Inc. now owns 1,470 shares of the aerospace company’s stock worth $859,000 after acquiring an additional 19 shares during the period. Baker Avenue Asset Management LP raised its position in shares of Lockheed Martin by 130.2% during the 3rd quarter. Baker Avenue Asset Management LP now owns 1,411 shares of the aerospace company’s stock worth $825,000 after purchasing an additional 798 shares during the period. Crossmark Global Holdings Inc. raised its position in shares of Lockheed Martin by 77.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 7,113 shares of the aerospace company’s stock worth $4,158,000 after purchasing an additional 3,113 shares during the period. Nations Financial Group Inc. IA ADV lifted its holdings in shares of Lockheed Martin by 13.6% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 3,432 shares of the aerospace company’s stock worth $2,007,000 after purchasing an additional 412 shares during the last quarter. Finally, WCM Investment Management LLC boosted its position in Lockheed Martin by 317.3% during the 3rd quarter. WCM Investment Management LLC now owns 3,585 shares of the aerospace company’s stock valued at $2,088,000 after purchasing an additional 2,726 shares during the period. 74.19% of the stock is currently owned by institutional investors.

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.