Lockheed Martin (NYSE:LMT) Stock Price Down 0.4% – What’s Next?

Lockheed Martin Co. (NYSE:LMT) shares dropped 0.4% during mid-day trading on Thursday . The company traded as low as $465.56 and last traded at $468.53. Approximately 168,868 shares traded hands during trading, a decline of 85% from the average daily volume of 1,101,887 shares. The stock had previously closed at $470.55.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LMT. JPMorgan Chase & Co. decreased their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. Truist Financial initiated coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price target for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. Finally, Barclays lowered their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $554.20.

Lockheed Martin Stock Down 0.8 %

The stock has a market cap of $109.87 billion, a P/E ratio of 20.97, a P/E/G ratio of 2.07 and a beta of 0.43. 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 firm has a 50 day simple moving average of $461.54 and a two-hundred day simple moving average of $516.47.

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

Lockheed Martin Announces Dividend

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 issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.83%. Lockheed Martin’s payout ratio is 59.30%.

Insiders Place Their Bets

In related news, VP Harry Edward Paul III sold 707 shares of the business’s 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 of the company’s stock, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 stock was sold at an average price of $442.42, for a total transaction 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 $884,840. This 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 worth $3,155,916 over the last ninety days. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors have recently bought and sold shares of the stock. BIP Wealth LLC acquired a new stake in shares of Lockheed Martin in the third quarter worth $237,000. Fifth Third Wealth Advisors LLC boosted its holdings in Lockheed Martin by 11.7% during the third quarter. Fifth Third Wealth Advisors LLC now owns 3,495 shares of the aerospace company’s stock valued at $2,043,000 after acquiring an additional 367 shares during the period. Prospera Private Wealth LLC acquired a new stake in shares of Lockheed Martin in the third quarter valued at about $99,000. Segall Bryant & Hamill LLC bought a new position in shares of Lockheed Martin in the third quarter worth about $7,039,000. Finally, MWA Asset Management lifted its position in shares of Lockheed Martin by 1.6% during the 3rd quarter. MWA Asset Management now owns 2,079 shares of the aerospace company’s stock worth $1,215,000 after purchasing an additional 33 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

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.