Lockheed Martin (NYSE:LMT) Stock Price Down 2.2% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT)’s stock price fell 2.2% on Tuesday . The stock traded as low as $466.54 and last traded at $468.70. 479,333 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 1,116,014 shares. The stock had previously closed at $479.17.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LMT. Truist Financial started coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target for the company. Barclays dropped 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. Royal Bank of Canada decreased their price target on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. StockNews.com cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, UBS Group cut their target price on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $554.20.

Lockheed Martin Trading Down 2.0 %

The firm’s 50-day simple moving average is $462.79 and its 200-day simple moving average is $520.80. The firm has a market capitalization of $110.49 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Equities analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the sale, the vice president now owns 2,278 shares in the company, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their position. 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 business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 2,000 shares in the company, valued at $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 sold 7,133 shares of company stock valued at $3,155,916 in the last quarter. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Lockheed Martin

Several institutional investors and hedge funds have recently modified their holdings of LMT. Proficio Capital Partners LLC boosted its position in Lockheed Martin by 53,784.3% during the 4th quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock valued at $600,412,000 after acquiring an additional 1,233,275 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Lockheed Martin by 17.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after acquiring an additional 1,132,461 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new position in shares of Lockheed Martin in the 4th quarter valued at approximately $526,587,000. Leigh Baldwin & CO. LLC bought a new stake in shares of Lockheed Martin during the fourth quarter valued at approximately $451,985,000. Finally, Van ECK Associates Corp grew its stake in Lockheed Martin by 1,239.6% in the fourth quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock worth $266,410,000 after purchasing an additional 507,312 shares during the period. 74.19% of the stock is owned by hedge funds and other 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.