Lockheed Martin (NYSE:LMT) Trading Down 1.3% – Here’s What Happened

Lockheed Martin Corporation (NYSE:LMT) traded down 1.3% on Friday . The company traded as low as $648.41 and last traded at $658.1020. 1,430,191 shares were traded during trading, a decline of 28% from the average session volume of 1,977,783 shares. The stock had previously closed at $666.51.

Analyst Ratings Changes

Several research firms recently issued reports on LMT. Royal Bank Of Canada increased their target price on Lockheed Martin from $615.00 to $650.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. increased their price target on shares of Lockheed Martin from $515.00 to $680.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Citigroup lifted their price objective on shares of Lockheed Martin from $592.00 to $673.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Morgan Stanley set a $675.00 target price on shares of Lockheed Martin in a research note on Wednesday, February 4th. Finally, BNP Paribas Exane raised their price target on shares of Lockheed Martin from $550.00 to $570.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. Six analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $612.50.

Lockheed Martin Stock Down 1.3%

The firm has a market capitalization of $151.42 billion, a PE ratio of 30.62, a PEG ratio of 1.17 and a beta of 0.23. The business’s fifty day moving average price is $560.32 and its 200 day moving average price is $500.20. The company has a quick ratio of 0.94, a current ratio of 1.09 and a debt-to-equity ratio of 3.05.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Thursday, January 29th. The aerospace company reported $5.80 EPS for the quarter, missing the consensus estimate of $6.33 by ($0.53). The company had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.84 billion. Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $7.67 earnings per share. On average, equities research analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Monday, March 2nd will be paid a dividend of $3.45 per share. This represents a $13.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, March 2nd. Lockheed Martin’s dividend payout ratio is 64.22%.

Institutional Investors Weigh In On Lockheed Martin

Institutional investors have recently modified their holdings of the company. Basso Capital Management L.P. acquired a new position in shares of Lockheed Martin during the 4th quarter valued at about $25,000. United Financial Planning Group LLC purchased a new stake in Lockheed Martin in the third quarter valued at approximately $25,000. Clarity Asset Management Inc. acquired a new position in Lockheed Martin during the fourth quarter worth approximately $26,000. Triumph Capital Management increased its position in Lockheed Martin by 66.7% during the fourth quarter. Triumph Capital Management now owns 55 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 22 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC raised its stake in Lockheed Martin by 285.7% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock worth $27,000 after purchasing an additional 40 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

About Lockheed Martin

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.