Lockheed Martin (NYSE:LMT) Stock Price Down 2.2% - Here's What Happened

Shares of Lockheed Martin Corporation (NYSE:LMT - Get Free Report) fell 2.2% during trading on Tuesday . The stock traded as low as $459.78 and last traded at $461.91. 506,986 shares were traded during mid-day trading, a decline of 62% from the average session volume of 1,340,868 shares. The stock had previously closed at $472.46.

Wall Street Analyst Weigh In

LMT has been the topic of several analyst reports. Robert W. Baird upgraded shares of Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 price target on the stock in a research note on Wednesday, April 23rd. Melius Research downgraded shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. UBS Group boosted their price target on Lockheed Martin from $481.00 to $499.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 23rd. Jefferies Financial Group lowered their price objective on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a report on Monday, April 28th. Finally, Royal Bank Of Canada lowered Lockheed Martin from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $541.80.

Lockheed Martin Price Performance

The company has a market cap of $107.93 billion, a P/E ratio of 19.90, a P/E/G ratio of 1.65 and a beta of 0.29. The stock has a 50-day simple moving average of $471.56 and a 200 day simple moving average of $467.62. The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.91 and a current ratio of 1.08.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 7.66% and a return on equity of 104.09%. On average, equities analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

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

Hedge Funds Weigh In On Lockheed Martin

Hedge funds and other institutional investors have recently modified their holdings of the stock. LaFleur & Godfrey LLC increased its holdings in shares of Lockheed Martin by 18.0% during the fourth quarter. LaFleur & Godfrey LLC now owns 1,156 shares of the aerospace company's stock worth $562,000 after buying an additional 176 shares in the last quarter. Eagle Capital Management LLC boosted its holdings in Lockheed Martin by 0.3% in the fourth quarter. Eagle Capital Management LLC now owns 10,827 shares of the aerospace company's stock valued at $5,261,000 after acquiring an additional 32 shares during the last quarter. Brighton Jones LLC raised its stake in shares of Lockheed Martin by 5.0% during the fourth quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company's stock worth $1,941,000 after buying an additional 191 shares during the last quarter. Hudson Portfolio Management LLC bought a new stake in shares of Lockheed Martin during the 4th quarter valued at $256,000. Finally, Howard Capital Management Inc. boosted its holdings in Lockheed Martin by 20.0% during the fourth quarter. Howard Capital Management Inc. now owns 3,492 shares of the aerospace company's stock worth $1,697,000 after buying an additional 581 shares during the last quarter. Institutional investors own 74.19% of the company's stock.

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.