Lockheed Martin (NYSE:LMT) Trading Down 0.6% - Here's Why

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Bank of America cut shares of Lockheed Martin from a "buy" rating to a "neutral" rating and reduced their price target for the company from $685.00 to $485.00 in a report on Monday, March 24th. Baird R W raised shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Jefferies Financial Group cut their price objective on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating on the stock in a research report on Monday, April 28th. Morgan Stanley raised shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price objective on the stock in a research report on Wednesday, April 16th. Finally, Susquehanna dropped their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a "positive" rating on the stock in a research report on Wednesday, January 29th. Nine investment 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's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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 cap of $110.56 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29. The firm has a 50-day simple moving average of $461.58 and a 200 day simple moving average of $478.57.

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

Lockheed Martin Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 2.80%. Lockheed Martin's dividend payout ratio (DPR) is presently 57.02%.

Insider Activity at Lockheed Martin

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

Hedge Funds Weigh In On Lockheed Martin

Several hedge funds have recently bought and sold shares of the business. Kentucky Retirement Systems Insurance Trust Fund grew its position in shares of Lockheed Martin by 51.7% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company's stock worth $4,630,000 after buying an additional 3,247 shares in the last quarter. Aquatic Capital Management LLC bought a new position in shares of Lockheed Martin during the 4th quarter worth $33,294,000. Private Advisor Group LLC boosted its position in Lockheed Martin by 11.0% during the fourth quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company's stock valued at $24,906,000 after purchasing an additional 5,075 shares in the last quarter. Confluence Wealth Services Inc. boosted its position in Lockheed Martin by 174.0% during the fourth quarter. Confluence Wealth Services Inc. now owns 3,176 shares of the aerospace company's stock valued at $1,579,000 after purchasing an additional 2,017 shares in the last quarter. Finally, Soltis Investment Advisors LLC boosted its position in Lockheed Martin by 42.5% during the fourth quarter. Soltis Investment Advisors LLC now owns 13,935 shares of the aerospace company's stock valued at $6,772,000 after purchasing an additional 4,159 shares in the last quarter. Institutional investors 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.

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