Lockheed Martin (NYSE:LMT) Shares Down 1.3% - Here's What Happened

Key Points

• Lockheed Martin's shares fell 1.3% during trading, reaching a low of $428.05 before closing at $429.31, with a significant drop in trading volume.
• A number of analysts have revised their price targets for Lockheed Martin, with a consensus target price of $506.65 and a general rating of "Hold" from fifteen investment analysts.
• Lockheed Martin reported a quarterly earnings per share of $7.29, exceeding analysts' expectations, despite a slight year-over-year revenue increase of 0.2%.

Lockheed Martin Corporation (NYSE:LMT - Get Free Report) fell 1.3% during trading on Thursday . The company traded as low as $428.05 and last traded at $429.31. 367,614 shares traded hands during trading, a decline of 78% from the average session volume of 1,678,201 shares. The stock had previously closed at $434.85.

Analysts Set New Price Targets

LMT has been the topic of a number of research reports. Sanford C. Bernstein set a $551.00 target price on Lockheed Martin and gave the company a "market perform" rating in a report on Monday, July 14th. Truist Financial cut shares of Lockheed Martin from a "buy" rating to a "hold" rating and lowered their price target for the company from $554.00 to $440.00 in a report on Wednesday, July 23rd. Morgan Stanley upgraded Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price objective for the company in a report on Wednesday, April 16th. Royal Bank Of Canada lowered their target price on Lockheed Martin from $480.00 to $440.00 and set a "sector perform" rating on the stock in a research note on Wednesday, July 23rd. Finally, Robert W. Baird dropped their target price on Lockheed Martin from $540.00 to $500.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 23rd. Fifteen investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Lockheed Martin currently has a consensus rating of "Hold" and a consensus target price of $506.65.

Lockheed Martin Price Performance

The firm has a market cap of $100.65 billion, a P/E ratio of 24.27, a price-to-earnings-growth ratio of 1.50 and a beta of 0.27. The stock's 50-day moving average is $458.10 and its 200-day moving average is $459.64. The company has a quick ratio of 0.83, a current ratio of 0.98 and a debt-to-equity ratio of 3.47.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The aerospace company reported $7.29 EPS for the quarter, beating analysts' consensus estimates of $6.57 by $0.72. Lockheed Martin had a net margin of 5.85% and a return on equity of 107.60%. The business had revenue of $18.16 billion during the quarter, compared to analyst estimates of $18.59 billion. During the same quarter in the prior year, the business earned $7.11 earnings per share. The firm's revenue for the quarter was up .2% on a year-over-year basis. As a group, equities analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Tuesday, September 2nd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. Lockheed Martin's dividend payout ratio (DPR) is 74.32%.

Institutional Investors Weigh In On Lockheed Martin

A number of institutional investors have recently bought and sold shares of the business. 49 Wealth Management LLC boosted its position in Lockheed Martin by 3.4% in the first quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company's stock worth $295,000 after purchasing an additional 22 shares during the last quarter. OMNI 360 Wealth Inc. raised its position in Lockheed Martin by 2.5% in the first quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company's stock worth $408,000 after acquiring an additional 22 shares during the period. Tyler Stone Wealth Management raised its position in Lockheed Martin by 3.3% in the first quarter. Tyler Stone Wealth Management now owns 684 shares of the aerospace company's stock worth $306,000 after acquiring an additional 22 shares during the period. Investment Advisory Services Inc. TX ADV raised its position in Lockheed Martin by 4.7% in the second quarter. Investment Advisory Services Inc. TX ADV now owns 486 shares of the aerospace company's stock worth $225,000 after acquiring an additional 22 shares during the period. Finally, Broadway Wealth Solutions Inc. raised its position in Lockheed Martin by 4.5% in the second quarter. Broadway Wealth Solutions Inc. now owns 511 shares of the aerospace company's stock worth $237,000 after acquiring an additional 22 shares during the period. Institutional investors and hedge funds own 74.19% of the company's stock.

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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