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

Lockheed Martin Co. (NYSE:LMT - Get Free Report) was down 0.9% during mid-day trading on Friday . The stock 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 research analysts have recently weighed in on LMT shares. Bank of America cut shares of Lockheed Martin from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Morgan Stanley raised shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 target price for the company in a research note on Wednesday, April 16th. Jefferies Financial Group decreased their price target 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. Citigroup cut their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a "buy" rating for the company in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company decreased their target price 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. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of "Moderate Buy" and an average target price of $541.80.

Lockheed Martin Stock Performance

The stock's 50 day moving average price is $461.35 and its 200 day moving average price is $484.10. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The firm has a market cap of $110.86 billion, a PE ratio of 21.26, a P/E/G ratio of 2.07 and a beta of 0.29.

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 for the quarter, topping the consensus estimate of $6.34 by $0.94. The company had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. As a group, equities analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Insider Activity at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the sale, the insider now owns 2,000 shares in the company, valued at approximately $884,840. This represents a 61.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 owns 2,278 shares of the company's stock, valued at $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 90 days, insiders sold 7,133 shares of company stock valued at $3,155,916. Insiders own 0.14% of the company's stock.

Hedge Funds Weigh In On Lockheed Martin

Large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in shares of Lockheed Martin by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 270,879 shares of the aerospace company's stock worth $158,345,000 after purchasing an additional 10,358 shares during the last quarter. Private Client Services LLC acquired a new position in shares of Lockheed Martin during the fourth quarter valued at $214,000. ORG Partners LLC grew its position in shares of Lockheed Martin by 1.1% during the fourth quarter. ORG Partners LLC now owns 3,030 shares of the aerospace company's stock worth $1,479,000 after acquiring an additional 34 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Lockheed Martin by 0.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 163,150 shares of the aerospace company's stock valued at $79,281,000 after purchasing an additional 973 shares during the period. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Lockheed Martin by 3.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 6,126 shares of the aerospace company's stock valued at $2,977,000 after buying an additional 193 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors.

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.

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