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

Lockheed Martin Corporation (NYSE:LMT)’s share price traded down 1.7% during mid-day trading on Friday. The stock traded as low as $561.85 and last traded at $566.4310. 1,386,206 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 1,473,343 shares. The stock had previously closed at $576.16.

More Lockheed Martin News

Here are the key news stories impacting Lockheed Martin this week:

• Positive Sentiment: Zacks says Lockheed Martin has gained 12% over six months, supported by a record backlog, global defense demand, major contracts and strategic acquisitions. It also describes the shares as trading at a discount to the industry, which could appeal to value-focused investors. Article: LMT Trades at a Discount to the Industry
• Positive Sentiment: Industry earnings point to ongoing demand for conventional weapons as well as drones and advanced defense systems, a supportive backdrop for defense contractors, although the article does not provide Lockheed-specific results. Article: Defense earnings reveal a more complicated rearmament boom
• Neutral Sentiment: Lockheed Martin is attracting increased attention from Zacks users, but the coverage does not identify a specific new company development driving that interest. Article: What to Know Beyond Why Lockheed Martin Is a Trending Stock
• Negative Sentiment: Defense shares faced political and budget uncertainty after Democrats took control of Congress. Reports say a proposed $1.5 trillion defense budget request may be in jeopardy, raising questions about future spending and contributing to pressure on Lockheed Martin and other contractors. Article: Defense Stocks Sank as Democrats Took Congress
• Negative Sentiment: Lockheed Martin agreed to pay $29.5 million to settle federal claims that it discriminated against white workers. The payment is a cost and may bring reputational scrutiny, though it is not presented as a change to the company’s operating outlook. Article: Lockheed Martin paying $29.5M settlement

Analyst Upgrades and Downgrades

A number of research firms recently commented on LMT. Wall Street Zen cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 17th. Weiss Ratings raised shares of Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, October 9th. Royal Bank Of Canada raised their price objective on shares of Lockheed Martin from $550.00 to $600.00 and gave the stock a “sector perform” rating in a research note on Friday, October 23rd. Sanford C. Bernstein decreased their price objective on shares of Lockheed Martin from $629.00 to $564.00 and set a “market perform” rating for the company in a research note on Wednesday, October 14th. Finally, TD Cowen dropped their target price on Lockheed Martin from $600.00 to $570.00 and set a “hold” rating for the company in a research report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $647.00.

Lockheed Martin Stock Down 1.7%

The firm has a market capitalization of $130.85 billion, a PE ratio of 20.12, a PEG ratio of 1.20 and a beta of 0.07. The company has a fifty day simple moving average of $548.25 and a two-hundred day simple moving average of $569.65. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.10 and a current ratio of 1.26.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Thursday, October 22nd. The aerospace company reported $7.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.52 by $0.45. The business had revenue of $20.71 billion for the quarter, compared to the consensus estimate of $20.48 billion. Lockheed Martin had a return on equity of 83.41% and a net margin of 8.23%. The business’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.95 EPS. Analysts forecast that Lockheed Martin Corporation will post 30.66 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 1st will be issued a dividend of $3.60 per share. This represents a $14.40 annualized dividend and a yield of 2.5%. The ex-dividend date is Tuesday, December 1st. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.45. Lockheed Martin’s dividend payout ratio (DPR) is currently 51.15%.

Hedge Funds Weigh In On Lockheed Martin

A number of large investors have recently bought and sold shares of LMT. Burnham & Co LLC purchased a new stake in shares of Lockheed Martin during the second quarter valued at $25,000. Field & Main Bank purchased a new stake in Lockheed Martin in the 2nd quarter worth approximately $26,000. Kelleher Financial Advisors acquired a new stake in Lockheed Martin during the second quarter valued at $29,000. Highland Investment Advisors LLC acquired a new position in shares of Lockheed Martin in the second quarter worth about $29,000. Finally, Lynch Investment Planning LLC purchased a new stake in shares of Lockheed Martin during the 3rd quarter worth about $40,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Company Profile

Lockheed Martin Corporation is a global security and aerospace company headquartered in Bethesda, Maryland. Formed in 1995 through the merger of Lockheed Corporation and Martin Marietta, the company develops and produces advanced defense, aerospace, and technology systems for government and commercial customers.

Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. Products and services include military aircraft such as the F-35 Lightning II, C-130 Hercules, and F-16 Fighting Falcon; missile-defense and precision-strike systems; helicopters and naval systems; command, control, communications, and intelligence technologies; satellites; space exploration systems; and other classified space and defense programs.

Lockheed Martin serves the U.S.