Lockheed Martin (NYSE:LMT) Trading Down 2.3% - Here's Why

Lockheed Martin Corporation (NYSE:LMT - Get Free Report) shares traded down 2.3% during trading on Thursday . The company traded as low as $467.96 and last traded at $468.27. 1,865,340 shares changed hands during mid-day trading, an increase of 39% from the average session volume of 1,341,252 shares. The stock had previously closed at $479.34.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wall Street Zen lowered Lockheed Martin from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 3rd. UBS Group increased their price objective on shares of Lockheed Martin from $481.00 to $499.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada lowered shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and dropped their price objective for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Bank of America lowered shares of Lockheed Martin from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Finally, Melius cut Lockheed Martin from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $541.80.

Lockheed Martin Stock Down 2.3%

The company has a debt-to-equity ratio of 2.79, a current ratio of 1.08 and a quick ratio of 0.91. The firm has a 50-day moving average of $471.66 and a 200 day moving average of $469.27. The stock has a market capitalization of $109.72 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 1.67 and a beta of 0.29.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping analysts' consensus estimates of $6.34 by $0.94. Lockheed Martin had a net margin of 7.66% and a return on equity of 104.09%. The business had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion. As a group, sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business 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. The ex-dividend date is Monday, June 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.82%. Lockheed Martin's dividend payout ratio is currently 57.02%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. TruNorth Capital Management LLC bought a new stake in shares of Lockheed Martin during the first quarter worth approximately $31,000. Millstone Evans Group LLC acquired a new stake in Lockheed Martin during the 4th quarter worth approximately $32,000. Mizuho Securities Co. Ltd. bought a new stake in Lockheed Martin in the 4th quarter valued at $34,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin in the 4th quarter valued at $35,000. Finally, Redwood Park Advisors LLC bought a new stake in shares of Lockheed Martin in the fourth quarter valued at about $40,000. 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.

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