Lockheed Martin (NYSE:LMT) Stock Price Down 1.1% – Here’s What Happened

Lockheed Martin Corporation (NYSE:LMT)’s stock price fell 1.1% on Tuesday . The stock traded as low as $605.00 and last traded at $609.4110. 1,064,441 shares were traded during mid-day trading, a decline of 45% from the average session volume of 1,923,268 shares. The stock had previously closed at $616.25.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Sanford C. Bernstein reissued a “market perform” rating and set a $654.00 price target on shares of Lockheed Martin in a report on Friday, February 6th. Morgan Stanley set a $675.00 price objective on Lockheed Martin in a report on Wednesday, February 4th. DZ Bank downgraded Lockheed Martin from a “buy” rating to a “hold” rating and set a $665.00 target price for the company. in a research note on Tuesday, February 3rd. Wall Street Zen cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Sunday. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Lockheed Martin from $492.00 to $611.00 and gave the company a “hold” rating in a research note on Friday, January 30th. Six analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $623.16.

Lockheed Martin Price Performance

The firm has a market cap of $140.21 billion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 1.13 and a beta of 0.22. The company has a current ratio of 1.09, a quick ratio of 0.94 and a debt-to-equity ratio of 3.05. The company has a 50 day moving average price of $629.70 and a 200 day moving average price of $533.38.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Thursday, January 29th. The aerospace company reported $5.80 EPS for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.53). Lockheed Martin had a return on equity of 108.53% and a net margin of 6.69%.The firm had revenue of $20.32 billion for the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter in the previous year, the firm posted $7.67 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, sell-side analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 2nd will be issued a $3.45 dividend. This represents a $13.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, March 2nd. Lockheed Martin’s dividend payout ratio is 64.22%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LMT. Basso Capital Management L.P. acquired a new stake in Lockheed Martin during the 4th quarter valued at $25,000. United Financial Planning Group LLC acquired a new position in shares of Lockheed Martin in the third quarter worth $25,000. Clarity Asset Management Inc. purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at $26,000. Triumph Capital Management boosted its stake in shares of Lockheed Martin by 66.7% during the fourth quarter. Triumph Capital Management now owns 55 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 22 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC boosted its stake in shares of Lockheed Martin by 285.7% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock valued at $27,000 after acquiring an additional 40 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

About Lockheed Martin

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.