Lockheed Martin (NYSE:LMT) Stock Price Down 0.1%

Shares of Lockheed Martin Co. (NYSE:LMT) fell 0.1% on Thursday . The stock traded as low as $563.90 and last traded at $566.57. 129,523 shares were traded during mid-day trading, a decline of 88% from the average session volume of 1,059,524 shares. The stock had previously closed at $566.96.

Analysts Set New Price Targets

Several research firms recently weighed in on LMT. Bank of America reaffirmed a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. Royal Bank of Canada raised shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $500.00 to $600.00 in a report on Monday, August 5th. TD Cowen raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and upped their price target for the company from $480.00 to $560.00 in a report on Wednesday, July 24th. Morgan Stanley upped their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Finally, Wells Fargo & Company upped their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $553.43.

Lockheed Martin Stock Up 0.1 %

The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The company has a market capitalization of $136.12 billion, a P/E ratio of 20.73, a PEG ratio of 4.55 and a beta of 0.47. The firm has a 50-day moving average price of $530.69 and a two-hundred day moving average price of $481.95.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, topping the consensus estimate of $6.45 by $0.66. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. The firm had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same period last year, the business earned $6.73 earnings per share. Lockheed Martin’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a $3.15 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.22%. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

Insider Buying and Selling

In related news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction dated 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 sale, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors have recently modified their holdings of the business. Franklin Resources Inc. increased its holdings in shares of Lockheed Martin by 14.9% during the 4th quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock worth $1,173,641,000 after acquiring an additional 336,588 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Lockheed Martin by 1.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after acquiring an additional 31,545 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Lockheed Martin by 14.9% during the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock worth $646,828,000 after acquiring an additional 180,074 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Lockheed Martin by 11.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company’s stock worth $546,144,000 after acquiring an additional 119,052 shares during the last quarter. Finally, Wulff Hansen & CO. increased its holdings in shares of Lockheed Martin by 56,626.7% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock worth $476,947,000 after acquiring an additional 1,019,281 shares during the last quarter. Institutional investors 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.