Lockheed Martin (NYSE:LMT) Stock Price Down 1.7% - Here's Why

Lockheed Martin Co. (NYSE:LMT - Get Free Report)'s stock price was down 1.7% during trading on Wednesday . The company traded as low as $456.00 and last traded at $460.68. Approximately 389,471 shares changed hands during trading, a decline of 65% from the average daily volume of 1,117,611 shares. The stock had previously closed at $468.88.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on LMT shares. Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a "buy" rating to a "hold" rating and dropped their target price for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. decreased their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Morgan Stanley decreased their target price on shares of Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 29th. Barclays reduced their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating on the stock in a research report on Monday, January 6th. Finally, Truist Financial assumed coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a "buy" rating and a $579.00 target price for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $554.20.

Lockheed Martin Stock Down 0.2 %

The firm has a fifty day moving average price of $461.39 and a 200 day moving average price of $518.80. 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 company has a market cap of $109.94 billion, a P/E ratio of 20.98, a PEG ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Equities research analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.83%. Lockheed Martin's payout ratio is currently 59.30%.

Insider Buying and Selling at Lockheed Martin

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the sale, the insider now owns 2,000 shares in the company, valued at $884,840. The trade was a 61.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the sale, the vice president now owns 2,278 shares in the company, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock valued at $3,155,916 in the last three months. Corporate insiders own 0.17% of the company's stock.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors have recently modified their holdings of the business. Virtue Capital Management LLC lifted its position in shares of Lockheed Martin by 112.8% during the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company's stock worth $1,315,000 after acquiring an additional 1,192 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Lockheed Martin by 2.1% during the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company's stock valued at $382,498,000 after buying an additional 13,253 shares during the last quarter. Hilltop Holdings Inc. grew its stake in shares of Lockheed Martin by 79.9% in the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company's stock worth $7,054,000 after purchasing an additional 5,361 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its stake in shares of Lockheed Martin by 51.7% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company's stock worth $4,630,000 after purchasing an additional 3,247 shares during the last quarter. Finally, Capital Investment Advisors LLC grew its stake in shares of Lockheed Martin by 2.2% in the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company's stock worth $44,770,000 after purchasing an additional 2,011 shares during the last quarter. 74.19% of the stock is 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.