Lockheed Martin (NYSE:LMT) Shares Down 2.6% - What's Next?

Shares of Lockheed Martin Co. (NYSE:LMT - Get Free Report) fell 2.6% on Thursday . The company traded as low as $448.39 and last traded at $464.88. 1,099,365 shares traded hands during mid-day trading, a decline of 11% from the average session volume of 1,234,198 shares. The stock had previously closed at $477.08.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LMT shares. Barclays decreased their target price on Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating for the company in a research report on Monday, January 6th. Royal Bank of Canada lowered shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and cut their target price for the stock from $550.00 to $480.00 in a research report on Thursday, March 27th. Truist Financial began coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a "buy" rating and a $579.00 price target on the stock. UBS Group dropped their price target 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, Melius lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Lockheed Martin presently has an average rating of "Hold" and an average price target of $539.93.

Lockheed Martin Stock Performance

The firm has a market cap of $107.52 billion, a P/E ratio of 20.59, a PEG ratio of 2.07 and a beta of 0.39. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The firm has a fifty day moving average of $452.24 and a 200-day moving average of $495.75.

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

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were paid a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin's payout ratio is 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 value of $1,421,495.46. Following the completion of the transaction, the insider now directly owns 2,000 shares of the company's stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the firm's stock in a transaction dated 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 approximately $1,008,265.58. This represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock valued at $3,155,916 in the last ninety days. 0.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Morse Asset Management Inc raised its stake in Lockheed Martin by 1.0% in the 3rd quarter. Morse Asset Management Inc now owns 3,058 shares of the aerospace company's stock valued at $1,788,000 after acquiring an additional 31 shares during the period. Tudor Financial Inc. acquired a new position in Lockheed Martin in the 3rd quarter valued at about $557,000. Anchor Investment Management LLC raised its holdings in Lockheed Martin by 8.4% in the 3rd quarter. Anchor Investment Management LLC now owns 4,125 shares of the aerospace company's stock valued at $2,411,000 after acquiring an additional 320 shares during the period. Fulcrum Equity Management boosted its holdings in shares of Lockheed Martin by 4.7% during the third quarter. Fulcrum Equity Management now owns 900 shares of the aerospace company's stock worth $526,000 after acquiring an additional 40 shares during the period. Finally, Sculati Wealth Management LLC bought a new position in shares of Lockheed Martin during the third quarter worth approximately $258,000. 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.