Lockheed Martin (NYSE:LMT) Shares Down 3.1% - What's Next?

Key Points

• Shares down 3.1% — LMT fell to as low as $593.88 (last $596.97) on Monday with volume slightly below average, and the consensus analyst rating is Hold with an average price target of $623.16 (individual targets range roughly $540–$740).
• Lockheed missed on reported quarterly EPS of $5.80 versus $6.33 expected while beating revenue at $20.32 billion, and analysts forecast about 27.15 EPS for the current year.
• The company pays a quarterly dividend of $3.45 (annualized $13.80, yield 2.3%) and has heavy institutional ownership (about 74.2%), with major stake increases from firms like AQR and Morgan Stanley.

Lockheed Martin Corporation (NYSE:LMT - Get Free Report)'s share price was down 3.1% on Monday . The stock traded as low as $593.88 and last traded at $596.9730. Approximately 1,845,486 shares were traded during trading, a decline of 2% from the average daily volume of 1,879,029 shares. The stock had previously closed at $615.84.

Wall Street Analyst Weigh In

Several research firms have recently commented on LMT. Jefferies Financial Group upped their price objective on Lockheed Martin from $540.00 to $630.00 and gave the stock a "hold" rating in a research note on Sunday, February 1st. Robert W. Baird lifted their target price on Lockheed Martin from $550.00 to $640.00 and gave the company an "outperform" rating in a research report on Friday, January 16th. DZ Bank lowered Lockheed Martin from a "buy" rating to a "hold" rating and set a $665.00 price target for the company. in a report on Tuesday, February 3rd. Sanford C. Bernstein restated a "market perform" rating and issued a $654.00 price target on shares of Lockheed Martin in a research report on Friday, February 6th. Finally, Susquehanna raised their price objective on Lockheed Martin from $725.00 to $740.00 and gave the stock a "positive" rating in a research note on Wednesday, March 18th. Seven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $623.16.

Lockheed Martin Stock Performance

The company has a current ratio of 1.09, a quick ratio of 0.94 and a debt-to-equity ratio of 3.05. The business's 50 day moving average is $633.43 and its two-hundred day moving average is $537.84. The company has a market cap of $137.58 billion, a PE ratio of 27.78, a PEG ratio of 1.11 and a beta of 0.22.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly 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). The business had revenue of $20.32 billion during the quarter, compared to analysts' expectations of $19.84 billion. Lockheed Martin had a return on equity of 108.53% and a net margin of 6.69%.The company's quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $7.67 EPS. On average, equities research analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Monday, March 2nd were given a dividend of $3.45 per share. The ex-dividend date was Monday, March 2nd. This represents a $13.80 annualized dividend and a dividend yield of 2.3%. Lockheed Martin's dividend payout ratio (DPR) is currently 64.22%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its stake in Lockheed Martin by 107.3% in the 4th quarter. AQR Capital Management LLC now owns 1,293,823 shares of the aerospace company's stock worth $625,784,000 after acquiring an additional 669,604 shares during the last quarter. Morgan Stanley boosted its position in shares of Lockheed Martin by 10.1% during the 4th quarter. Morgan Stanley now owns 5,728,551 shares of the aerospace company's stock valued at $2,770,729,000 after acquiring an additional 527,523 shares during the last quarter. Sanders Capital LLC purchased a new position in shares of Lockheed Martin in the third quarter valued at $252,699,000. Corient Private Wealth LLC grew its holdings in shares of Lockheed Martin by 203.3% in the fourth quarter. Corient Private Wealth LLC now owns 560,363 shares of the aerospace company's stock valued at $271,031,000 after purchasing an additional 375,622 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Lockheed Martin by 286.1% in the third quarter. First Trust Advisors LP now owns 503,428 shares of the aerospace company's stock worth $251,316,000 after purchasing an additional 373,027 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

About Lockheed Martin

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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