Lockheed Martin (NYSE:LMT) Shares Down 1.8% - Here's What Happened

Key Points

• Shares were down 1.8% mid-day to $616.02, with about 1.34 million shares traded—roughly a 31% decline from average daily volume.
• Lockheed reported EPS $5.80 (missing the $6.33 estimate) while revenue of $20.32 billion beat expectations, and analysts have raised several price targets though the consensus rating remains "Hold" with an average target of $623.16.
• The company declared a quarterly dividend of $3.45 (ex-dividend March 2), equal to a $13.80 annualized payout and a ~2.2% yield with a payout ratio of 64.22%.

Lockheed Martin Corporation (NYSE:LMT - Get Free Report) dropped 1.8% during mid-day trading on Monday . The stock traded as low as $610.63 and last traded at $616.0220. Approximately 1,337,315 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 1,942,986 shares. The stock had previously closed at $627.43.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LMT. Robert W. Baird upped their price objective on shares of Lockheed Martin from $550.00 to $640.00 and gave the company an "outperform" rating in a research report on Friday, January 16th. Royal Bank Of Canada raised their price objective on shares of Lockheed Martin from $615.00 to $650.00 and gave the stock a "sector perform" rating in a report on Friday, January 30th. UBS Group upped their target price on shares of Lockheed Martin from $580.00 to $663.00 and gave the company a "neutral" rating in a research note on Monday, February 2nd. Morgan Stanley set a $675.00 price target on shares of Lockheed Martin in a research report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of Lockheed Martin from $515.00 to $680.00 and gave the stock a "neutral" rating in a research note on Friday, January 30th. Six research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of "Hold" and an average price target of $623.16.

Lockheed Martin Stock Performance

The company has a quick ratio of 0.94, a current ratio of 1.09 and a debt-to-equity ratio of 3.05. The stock has a fifty day simple moving average of $628.41 and a 200-day simple moving average of $532.26. The company has a market capitalization of $141.73 billion, a P/E ratio of 28.67, a PEG ratio of 1.13 and a beta of 0.22.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its earnings results on Thursday, January 29th. The aerospace company reported $5.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.33 by ($0.53). Lockheed Martin had a return on equity of 108.53% and a net margin of 6.69%.The firm had revenue of $20.32 billion for the quarter, compared to analyst estimates of $19.84 billion. During the same quarter last year, the business earned $7.67 EPS. The company's revenue for the quarter was up 9.1% compared to the same quarter last year. Equities analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Monday, March 2nd will be issued a dividend of $3.45 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $13.80 annualized dividend and a dividend yield of 2.2%. Lockheed Martin's dividend payout ratio (DPR) is presently 64.22%.

Hedge Funds Weigh In On Lockheed Martin

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its holdings in shares of Lockheed Martin by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,638,936 shares of the aerospace company's stock valued at $4,178,399,000 after buying an additional 114,900 shares during the last quarter. Morgan Stanley grew its holdings in Lockheed Martin by 10.1% during the 4th quarter. Morgan Stanley now owns 5,728,551 shares of the aerospace company's stock worth $2,770,729,000 after acquiring an additional 527,523 shares during the last quarter. Wellington Management Group LLP increased its position in Lockheed Martin by 3.4% in the 3rd quarter. Wellington Management Group LLP now owns 2,384,753 shares of the aerospace company's stock valued at $1,190,493,000 after acquiring an additional 79,491 shares in the last quarter. Invesco Ltd. increased its position in Lockheed Martin by 4.2% in the 3rd quarter. Invesco Ltd. now owns 2,196,058 shares of the aerospace company's stock valued at $1,096,294,000 after acquiring an additional 87,663 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Lockheed Martin by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 1,670,284 shares of the aerospace company's stock worth $807,866,000 after acquiring an additional 10,349 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company's stock.

Lockheed Martin Company Profile

Lockheed Martin Corporation NYSE: LMT is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin's product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.

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