Lockheed Martin (NYSE:LMT) Shares Down 1.3% – What’s Next?

Lockheed Martin Co. (NYSE:LMT)’s stock price dropped 1.3% during mid-day trading on Monday . The stock traded as low as $482.37 and last traded at $482.88. Approximately 218,003 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 1,096,666 shares. The stock had previously closed at $489.02.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 17th. Bank of America restated a “buy” rating and set a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. Robert W. Baird increased their target price on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Royal Bank of Canada decreased their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised their price objective on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $612.29.

Lockheed Martin Price Performance

The stock has a market cap of $115.19 billion, a P/E ratio of 17.59, a PEG ratio of 4.13 and a beta of 0.46. The company has a 50 day simple moving average of $541.05 and a 200 day simple moving average of $533.23. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the previous year, the firm posted $6.77 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. Sell-side analysts forecast that Lockheed Martin Co. will post 26.88 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.72%. Lockheed Martin’s dividend payout ratio is 47.79%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LMT. International Assets Investment Management LLC lifted its stake in Lockheed Martin by 60,592.0% in the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after acquiring an additional 1,556,609 shares during the last quarter. Wulff Hansen & CO. lifted its stake in Lockheed Martin by 56,626.7% in the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after purchasing an additional 1,019,281 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in Lockheed Martin by 124.0% during the third quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock worth $263,561,000 after purchasing an additional 249,591 shares during the period. Wellington Management Group LLP increased its position in Lockheed Martin by 8.5% during the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after buying an additional 240,306 shares during the last quarter. Finally, FMR LLC raised its stake in Lockheed Martin by 6.6% in the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after buying an additional 209,591 shares during the period. Institutional investors and hedge funds 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.