Lockheed Martin (NYSE:LMT) Shares Down 0.6% - Here's What Happened

Lockheed Martin Co. (NYSE:LMT - Get Free Report)'s stock price was down 0.6% during mid-day trading on Wednesday . The stock traded as low as $472.00 and last traded at $472.84. Approximately 334,314 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 1,284,804 shares. The stock had previously closed at $475.82.

Analysts Set New Price Targets

Several research firms have weighed in on LMT. Melius lowered Lockheed Martin from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Wells Fargo & Company reduced their target price 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. UBS Group increased their target price on Lockheed Martin from $481.00 to $499.00 and gave the stock a "neutral" rating in a report on Wednesday, April 23rd. Wall Street Zen downgraded Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 3rd. Finally, Robert W. Baird raised Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 price target on the stock in a research note on Wednesday, April 23rd. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin currently has a consensus rating of "Moderate Buy" and an average target price of $541.80.

Lockheed Martin Price Performance

The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The firm has a market capitalization of $109.95 billion, a P/E ratio of 21.08, a P/E/G ratio of 2.07 and a beta of 0.29. The firm's 50 day simple moving average is $461.70 and its two-hundred day simple moving average is $476.97.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $17.96 billion for the quarter, compared to analysts' expectations of $17.83 billion. As a group, analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

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

Insiders Place Their Bets

In other news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction on 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 directly owns 2,278 shares of the company's stock, valued at $1,008,265.58. This represents a 23.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction on 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 completion of the sale, the insider now directly owns 2,000 shares of the company's stock, valued at approximately $884,840. This trade represents a 61.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,133 shares of company stock worth $3,155,916. 0.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lockheed Martin

Several institutional investors have recently bought and sold shares of LMT. McAdam LLC lifted its position in Lockheed Martin by 7.2% during the first quarter. McAdam LLC now owns 1,432 shares of the aerospace company's stock valued at $640,000 after purchasing an additional 96 shares during the last quarter. Acorns Advisers LLC lifted its holdings in Lockheed Martin by 24.3% during the 1st quarter. Acorns Advisers LLC now owns 876 shares of the aerospace company's stock valued at $391,000 after buying an additional 171 shares in the last quarter. Fortis Capital Advisors LLC lifted its holdings in Lockheed Martin by 12.4% during the 1st quarter. Fortis Capital Advisors LLC now owns 1,277 shares of the aerospace company's stock valued at $570,000 after buying an additional 141 shares in the last quarter. Focus Partners Wealth lifted its holdings in Lockheed Martin by 2.0% during the 1st quarter. Focus Partners Wealth now owns 111,955 shares of the aerospace company's stock valued at $50,012,000 after buying an additional 2,171 shares in the last quarter. Finally, Integrity Alliance LLC. raised its holdings in shares of Lockheed Martin by 693.7% in the 1st quarter. Integrity Alliance LLC. now owns 6,667 shares of the aerospace company's stock valued at $2,978,000 after purchasing an additional 5,827 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

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.