Lockheed Martin (NYSE:LMT) Stock Price Down 0.4% - Here's Why

Lockheed Martin Co. (NYSE:LMT - Get Free Report) shares were down 0.4% during mid-day trading on Wednesday . The stock traded as low as $455.56 and last traded at $457.88. Approximately 318,394 shares traded hands during trading, a decline of 75% from the average daily volume of 1,270,562 shares. The stock had previously closed at $459.83.

Analyst Ratings Changes

A number of analysts recently commented on the company. Bank of America lowered Lockheed Martin from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Jefferies Financial Group cut their target price on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research note on Monday, April 28th. Wells Fargo & Company reduced their price target on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Royal Bank of Canada lowered shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Finally, Baird R W upgraded Lockheed Martin from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin presently has a consensus rating of "Moderate Buy" and a consensus price target of $541.80.

Lockheed Martin Price Performance

The stock has a market capitalization of $108.98 billion, a P/E ratio of 20.91, a P/E/G ratio of 2.07 and a beta of 0.29. The firm has a fifty day moving average price of $461.25 and a two-hundred day moving average price of $480.58. 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 - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.34 by $0.94. The business had revenue of $17.96 billion during the quarter, compared to analysts' expectations of $17.83 billion. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. On average, analysts expect that Lockheed Martin Co. 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, June 27th. Stockholders of record on Monday, June 2nd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin's dividend payout ratio is currently 57.02%.

Insider Activity

In other news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares of the company's stock, valued at $1,008,265.58. This represents a 23.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm's stock in a transaction on 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 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 disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock valued at $3,155,916 over the last ninety days. 0.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Fifth Third Wealth Advisors LLC raised its position in Lockheed Martin by 11.8% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 3,906 shares of the aerospace company's stock worth $1,898,000 after acquiring an additional 411 shares during the period. BluePath Capital Management LLC increased its stake in shares of Lockheed Martin by 19.7% in the 4th quarter. BluePath Capital Management LLC now owns 4,267 shares of the aerospace company's stock worth $2,062,000 after purchasing an additional 702 shares in the last quarter. USA Financial Formulas raised its holdings in Lockheed Martin by 18.8% in the 4th quarter. USA Financial Formulas now owns 473 shares of the aerospace company's stock worth $230,000 after purchasing an additional 75 shares during the period. RMR Wealth Builders lifted its position in Lockheed Martin by 10.5% during the fourth quarter. RMR Wealth Builders now owns 3,124 shares of the aerospace company's stock valued at $1,518,000 after purchasing an additional 296 shares in the last quarter. Finally, Smith Thornton Advisors LLC grew its holdings in Lockheed Martin by 3.8% during the fourth quarter. Smith Thornton Advisors LLC now owns 814 shares of the aerospace company's stock valued at $396,000 after purchasing an additional 30 shares during the period. 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.