Lockheed Martin (NYSE:LMT) Trading Down 0.8%

Lockheed Martin Co. (NYSE:LMT) was down 0.8% during mid-day trading on Tuesday . The stock traded as low as $550.96 and last traded at $553.80. Approximately 223,545 shares changed hands during trading, a decline of 79% from the average daily volume of 1,078,608 shares. The stock had previously closed at $558.39.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Bank of America upgraded shares of Lockheed Martin from a “neutral” rating to a “buy” rating and raised their price target for the stock from $465.00 to $635.00 in a report on Wednesday, July 31st. Wells Fargo & Company boosted their target price on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Susquehanna increased their price target on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a report on Wednesday, July 24th. Royal Bank of Canada raised shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $500.00 to $600.00 in a research report on Monday, August 5th. Finally, Morgan Stanley upped their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $541.85.

Lockheed Martin Price 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 firm has a market cap of $133.65 billion, a PE ratio of 20.35, a P/E/G ratio of 4.40 and a beta of 0.46. The business’s fifty day moving average is $500.25 and its 200-day moving average is $467.24.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The business had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. During the same period last year, the business posted $6.73 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, research analysts predict that Lockheed Martin Co. will post 26.71 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.26%. Lockheed Martin’s dividend payout ratio is presently 46.10%.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

Large investors have recently modified their holdings of the company. First Pacific Financial purchased a new position in shares of Lockheed Martin during the 1st quarter valued at $25,000. Altshuler Shaham Ltd bought a new position in Lockheed Martin in the 4th quarter worth about $26,000. Sachetta LLC raised its holdings in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 20 shares in the last quarter. Wiser Advisor Group LLC boosted its position in shares of Lockheed Martin by 65.8% during the 1st quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock valued at $29,000 after acquiring an additional 25 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in shares of Lockheed Martin during the first quarter worth about $30,000. 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.