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

Lockheed Martin Co. (NYSE:LMT - Get Free Report) dropped 5.4% during mid-day trading on Wednesday . The stock traded as low as $443.41 and last traded at $451.12. Approximately 1,500,701 shares changed hands during 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

A number of equities research analysts have weighed in on LMT shares. Melius Research cut shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. UBS Group increased their price objective on shares of Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a research report on Wednesday, April 23rd. Bank of America downgraded shares of Lockheed Martin from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $685.00 to $485.00 in a research report on Monday, March 24th. Wall Street Zen downgraded shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 3rd. Finally, 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 report on Wednesday, April 23rd. 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 an average rating of "Moderate Buy" and a consensus target price of $541.80.

Lockheed Martin Price Performance

The company has a market capitalization of $113.81 billion, a P/E ratio of 21.82, a P/E/G ratio of 2.07 and a beta of 0.29. The firm's fifty day moving average is $470.72 and its 200 day moving average is $470.04. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13.

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

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 2nd will be paid a dividend of $3.30 per share. The ex-dividend date is Monday, June 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.72%. Lockheed Martin's dividend payout ratio (DPR) is presently 57.02%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Kentucky Retirement Systems Insurance Trust Fund increased 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 acquiring an additional 3,247 shares during the period. Aquatic Capital Management LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter worth $33,294,000. Private Advisor Group LLC increased its stake in shares of Lockheed Martin by 11.0% in the fourth quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company's stock worth $24,906,000 after acquiring an additional 5,075 shares during the period. State of Wyoming boosted its holdings in Lockheed Martin by 93.9% during the fourth quarter. State of Wyoming now owns 1,113 shares of the aerospace company's stock worth $541,000 after buying an additional 539 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in Lockheed Martin by 3.9% during the fourth quarter. Treasurer of the State of North Carolina now owns 102,674 shares of the aerospace company's stock worth $49,893,000 after buying an additional 3,809 shares in the last quarter. Institutional investors and hedge funds 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.