Lockheed Martin (NYSE:LMT) Trading Down 0.6%

Lockheed Martin Co. (NYSE:LMT)’s stock price dropped 0.6% on Monday . The stock traded as low as $519.34 and last traded at $521.82. Approximately 182,951 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 1,079,357 shares. The stock had previously closed at $524.80.

Analysts Set New Price Targets

Several research firms recently weighed in on LMT. UBS Group upped their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Citigroup raised their price target on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. TD Cowen upgraded Lockheed Martin from a “hold” rating to a “buy” rating and upped their price objective for the stock from $480.00 to $560.00 in a report on Wednesday, July 24th. Wells Fargo & Company raised their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Finally, Royal Bank of Canada upped their target price on Lockheed Martin from $470.00 to $500.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $518.91.

Lockheed Martin Stock Performance

The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The business has a 50 day moving average price of $469.59 and a two-hundred day moving average price of $453.88. The stock has a market cap of $126.04 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 4.71 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter in the prior year, the company posted $6.73 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities research analysts forecast that Lockheed Martin Co. will post 26.26 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. This represents a $12.60 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is 46.10%.

Insider Transactions at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Warther Private Wealth LLC grew its stake in shares of Lockheed Martin by 86.1% in the 4th quarter. Warther Private Wealth LLC now owns 16,369 shares of the aerospace company’s stock worth $7,419,000 after buying an additional 7,575 shares during the last quarter. Morningstar Investment Services LLC grew its holdings in shares of Lockheed Martin by 99.6% during the fourth quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock valued at $66,697,000 after buying an additional 73,774 shares during the last quarter. Cercano Management LLC purchased a new position in Lockheed Martin in the 4th quarter worth approximately $29,454,000. Brevan Howard Capital Management LP lifted its position in Lockheed Martin by 414.2% in the 4th quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock valued at $3,228,000 after acquiring an additional 5,736 shares in the last quarter. Finally, New Mexico Educational Retirement Board increased its holdings in shares of Lockheed Martin by 20.5% in the 1st quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock worth $6,222,000 after purchasing an additional 2,400 shares in the last quarter. Hedge funds and other institutional investors 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.