Lockheed Martin (NYSE:LMT) Shares Down 0.4% - Here's What Happened

Lockheed Martin Co. (NYSE:LMT - Get Free Report)'s stock price dropped 0.4% on Monday . The stock traded as low as $465.78 and last traded at $471.79. Approximately 371,208 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 1,265,496 shares. The stock had previously closed at $473.52.

Analysts Set New Price Targets

LMT has been the subject of several analyst reports. StockNews.com cut shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 3rd. UBS Group raised their target price on shares of Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their target price on Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating for the company in a research note on Thursday, January 30th. Citigroup reduced their target price on Lockheed Martin from $700.00 to $600.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada downgraded Lockheed Martin from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from $550.00 to $480.00 in a research note on Thursday, March 27th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $541.80.

Lockheed Martin Stock Performance

The stock's fifty day moving average price is $461.84 and its two-hundred day moving average price is $482.21. 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 company has a market cap of $110.85 billion, a P/E ratio of 21.25, a P/E/G ratio of 2.07 and a beta of 0.29.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating analysts' consensus estimates of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The company had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. As a group, equities analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Insider Transactions at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the sale, the insider now owns 2,000 shares of the company's stock, valued at approximately $884,840. This represents a 61.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction dated 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 transaction, the vice president now directly owns 2,278 shares of the company's stock, valued at approximately $1,008,265.58. This trade represents a 23.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,133 shares of company stock worth $3,155,916. Insiders own 0.14% of the company's stock.

Institutional Investors Weigh In On Lockheed Martin

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. TruNorth Capital Management LLC bought a new position in shares of Lockheed Martin in the first quarter valued at $31,000. Millstone Evans Group LLC bought a new position in shares of Lockheed Martin in the fourth quarter valued at $32,000. Mizuho Securities Co. Ltd. bought a new position in shares of Lockheed Martin in the fourth quarter valued at $34,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin during the 4th quarter worth $35,000. Finally, Redwood Park Advisors LLC purchased a new position in Lockheed Martin during the 4th quarter worth $40,000. 74.19% of the stock is 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.

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