Lockheed Martin (NYSE:LMT) Trading 1.2% Higher – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT)’s stock price was up 1.2% during mid-day trading on Wednesday . The company traded as high as $455.72 and last traded at $454.42. Approximately 302,913 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 1,100,857 shares. The stock had previously closed at $448.82.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays cut their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. StockNews.com downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Morgan Stanley dropped their price target on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Royal Bank of Canada reduced their price objective on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. Finally, Truist Financial initiated coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $553.67.

Lockheed Martin Price Performance

The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The company has a 50-day moving average of $464.31 and a 200 day moving average of $523.28. The firm has a market cap of $108.83 billion, a P/E ratio of 20.77, a P/E/G ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. On average, sell-side analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.86%. Lockheed Martin’s payout ratio is currently 59.30%.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock worth $3,155,916 over the last 90 days. Insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LMT. Intact Investment Management Inc. bought a new position in Lockheed Martin during the third quarter worth about $70,000. Vestor Capital LLC acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at approximately $46,000. Quintet Private Bank Europe S.A. increased its stake in Lockheed Martin by 14.9% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 200 shares of the aerospace company’s stock worth $117,000 after purchasing an additional 26 shares in the last quarter. Moloney Securities Asset Management LLC raised its holdings in Lockheed Martin by 2.9% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 6,485 shares of the aerospace company’s stock worth $3,791,000 after buying an additional 184 shares during the period. Finally, ASB Consultores LLC bought a new position in Lockheed Martin in the third quarter valued at approximately $279,000. 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.