Lockheed Martin (NYSE:LMT) Trading Down 1.7% - Time to Sell?

Lockheed Martin Co. (NYSE:LMT - Get Free Report)'s stock price dropped 1.7% on Tuesday . The company traded as low as $442.35 and last traded at $450.67. Approximately 809,912 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 1,244,981 shares. The stock had previously closed at $458.33.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Truist Financial initiated coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They set a "buy" rating and a $579.00 price objective for the company. Baird R W raised Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. Morgan Stanley upgraded Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 target price on the stock in a report on Wednesday, April 16th. Royal Bank of Canada downgraded Lockheed Martin from an "outperform" rating to a "sector perform" rating and lowered their price target for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Finally, Wells Fargo & Company cut their price objective on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $544.79.

Lockheed Martin Price Performance

The stock has a market cap of $112.08 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The company has a 50-day simple moving average of $455.79 and a two-hundred day simple moving average of $492.43.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, beating analysts' consensus estimates of $6.34 by $0.94. The firm had revenue of $17.96 billion during the quarter, compared to analysts' expectations of $17.83 billion. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, equities research analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were given a $3.30 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.76%. Lockheed Martin's payout ratio is 57.02%.

Insider Buying and Selling

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares of the company's stock, valued at $1,008,265.58. This represents a 23.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the sale, the insider now owns 2,000 shares of the company's stock, valued at approximately $884,840. This represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,133 shares of company stock valued at $3,155,916. 0.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Lockheed Martin by 41,104.9% during the 1st quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock worth $889,593,000 after purchasing an additional 1,986,600 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Lockheed Martin by 53,784.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company's stock valued at $600,412,000 after buying an additional 1,233,275 shares during the period. Charles Schwab Investment Management Inc. grew its position in Lockheed Martin by 17.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company's stock worth $3,630,492,000 after buying an additional 1,132,461 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new position in Lockheed Martin during the 4th quarter worth $526,587,000. Finally, Leigh Baldwin & CO. LLC acquired a new position in Lockheed Martin in the 4th quarter valued at $451,985,000. Institutional investors and hedge funds own 74.19% of the company's stock.

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.