Lockheed Martin (NYSE:LMT) Shares Down 5.4% - Here's Why

Shares of Lockheed Martin Co. (NYSE:LMT - Get Free Report) were down 5.4% during trading on Wednesday . The company traded as low as $443.41 and last traded at $451.12. Approximately 1,500,701 shares traded hands during mid-day trading, a decline of 4% from the average daily volume of 1,559,131 shares. The stock had previously closed at $476.90.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Melius Research lowered Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Melius lowered Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Bank of America lowered Lockheed Martin from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $685.00 to $485.00 in a research report on Monday, March 24th. Jefferies Financial Group reduced their price target on Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a research report on Monday, April 28th. Finally, UBS Group upped 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. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Lockheed Martin has a consensus rating of "Moderate Buy" and an average price target of $541.80.

Lockheed Martin Stock Up 2.7%

The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The stock has a market cap of $109.88 billion, a P/E ratio of 21.07, a PEG ratio of 2.07 and a beta of 0.29. The firm has a 50-day simple moving average of $469.07 and a two-hundred day simple moving average of $471.03.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping the consensus estimate of $6.34 by $0.94. The firm had revenue of $17.96 billion for the quarter, compared to analysts' expectations of $17.83 billion. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Equities research analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Monday, June 2nd. Lockheed Martin's dividend payout ratio (DPR) is currently 57.02%.

Institutional Trading of Lockheed Martin

Several large investors have recently modified their holdings of the stock. Schear Investment Advisers LLC boosted its stake in Lockheed Martin by 2.0% in the fourth quarter. Schear Investment Advisers LLC now owns 1,147 shares of the aerospace company's stock valued at $557,000 after buying an additional 22 shares in the last quarter. OMNI 360 Wealth Inc. boosted its stake in Lockheed Martin by 2.5% in the first quarter. OMNI 360 Wealth Inc. now owns 913 shares of the aerospace company's stock valued at $408,000 after buying an additional 22 shares in the last quarter. 49 Wealth Management LLC boosted its stake in Lockheed Martin by 3.4% in the first quarter. 49 Wealth Management LLC now owns 661 shares of the aerospace company's stock valued at $295,000 after buying an additional 22 shares in the last quarter. Tyler Stone Wealth Management boosted its stake in Lockheed Martin by 3.3% in the first quarter. Tyler Stone Wealth Management now owns 684 shares of the aerospace company's stock valued at $306,000 after buying an additional 22 shares in the last quarter. Finally, Private Portfolio Partners LLC boosted its stake in Lockheed Martin by 4.8% in the fourth quarter. Private Portfolio Partners LLC now owns 502 shares of the aerospace company's stock valued at $244,000 after buying an additional 23 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

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.