Lockheed Martin (NYSE:LMT) Shares Up 1.6% – Here’s Why

Lockheed Martin Co. (NYSE:LMT)’s share price rose 1.6% on Wednesday . The stock traded as high as $451.20 and last traded at $449.11. Approximately 315,308 shares traded hands during trading, a decline of 72% from the average daily volume of 1,137,860 shares. The stock had previously closed at $442.07.

Wall Street Analysts Forecast Growth

LMT has been the subject of several recent research reports. Susquehanna dropped their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research report on Wednesday, January 29th. UBS Group dropped their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Melius Research lowered Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $539.53.

Lockheed Martin Trading Down 0.2 %

The business has a 50-day moving average price of $457.47 and a two-hundred day moving average price of $511.67. The company has a market cap of $103.90 billion, a P/E ratio of 19.83, a P/E/G 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 announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping 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%. On average, analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

Insider Transactions at Lockheed Martin

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. bought a new position in shares of Lockheed Martin during the 3rd quarter valued at about $26,000. Millstone Evans Group LLC acquired a new stake in Lockheed Martin during the 4th quarter worth approximately $32,000. Mizuho Securities Co. Ltd. bought a new position in Lockheed Martin in the fourth quarter valued at approximately $34,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin in the fourth quarter valued at approximately $35,000. Finally, Redwood Park Advisors LLC bought a new stake in shares of Lockheed Martin during the fourth quarter worth $40,000. 74.19% of the stock is owned by institutional investors and hedge funds.

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.