Lockheed Martin (NYSE:LMT) Shares Down 0.9% - Here's What Happened

Lockheed Martin Co. (NYSE:LMT - Get Free Report) dropped 0.9% during trading on Friday . The company traded as low as $468.08 and last traded at $470.44. Approximately 204,703 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 1,260,167 shares. The stock had previously closed at $474.53.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. StockNews.com downgraded Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 3rd. Baird R W upgraded shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Bank of America lowered shares of Lockheed Martin from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $685.00 to $485.00 in a research report on Monday, March 24th. Finally, Melius downgraded Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $541.80.

Lockheed Martin Stock Down 2.9%

The business has a 50 day moving average price of $462.09 and a 200 day moving average price of $481.59. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The stock has a market cap of $107.67 billion, a PE ratio of 20.65, a P/E/G ratio of 2.07 and a beta of 0.29.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The firm had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. Equities research analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, June 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.87%. Lockheed Martin's payout ratio is 57.02%.

Insider Activity

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 in the company, valued at approximately $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 a total of 7,133 shares of company stock valued at $3,155,916 in the last 90 days. Company insiders own 0.14% of the company's stock.

Institutional Trading of Lockheed Martin

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