Lockheed Martin (NYSE:LMT) Shares Up 2.2% - Time to Buy?

Lockheed Martin Co. (NYSE:LMT - Get Free Report) shares shot up 2.2% during mid-day trading on Wednesday . The company traded as high as $480.45 and last traded at $479.88. 260,930 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 1,648,108 shares. The stock had previously closed at $469.58.

Analysts Set New Price Targets

LMT has been the subject of several recent analyst reports. Melius Research cut shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Barclays decreased their price target on Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating on the stock in a research note on Monday, January 6th. Morgan Stanley raised Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price objective for the company in a research note on Wednesday. UBS Group decreased their target price on Lockheed Martin from $527.00 to $508.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company dropped their price target on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $539.93.

Lockheed Martin Stock Performance

The stock's 50 day moving average price is $452.24 and its 200 day moving average price is $496.52. 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 company has a market cap of $108.79 billion, a price-to-earnings ratio of 20.84, a P/E/G ratio of 2.07 and a beta of 0.39.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating analysts' consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. On average, analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were paid a dividend of $3.30 per share. The ex-dividend date was Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.85%. Lockheed Martin's dividend payout ratio is presently 59.30%.

Insider Activity

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the transaction, the insider now owns 2,000 shares in the company, valued at $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the vice president now owns 2,278 shares of the company's stock, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock valued at $3,155,916 in the last three months. Corporate insiders own 0.14% of the company's stock.

Institutional Trading of Lockheed Martin

Several large investors have recently bought and sold shares of LMT. Cornerstone Wealth Management LLC boosted its stake in shares of Lockheed Martin by 28.5% in the first quarter. Cornerstone Wealth Management LLC now owns 3,687 shares of the aerospace company's stock valued at $1,647,000 after purchasing an additional 817 shares during the period. Clarius Group LLC raised its position in shares of Lockheed Martin by 8.2% in the 1st quarter. Clarius Group LLC now owns 1,896 shares of the aerospace company's stock valued at $847,000 after purchasing an additional 144 shares in the last quarter. Boomfish Wealth Group LLC boosted its stake in shares of Lockheed Martin by 5.5% during the 1st quarter. Boomfish Wealth Group LLC now owns 5,221 shares of the aerospace company's stock valued at $2,332,000 after buying an additional 273 shares during the last quarter. Wendell David Associates Inc. raised its stake in shares of Lockheed Martin by 3.0% in the 1st quarter. Wendell David Associates Inc. now owns 7,371 shares of the aerospace company's stock valued at $3,293,000 after purchasing an additional 218 shares in the last quarter. Finally, Bell Bank grew its position in shares of Lockheed Martin by 6.5% in the 1st quarter. Bell Bank now owns 1,181 shares of the aerospace company's stock worth $528,000 after acquiring an additional 72 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.