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

Key Points

• Lockheed Martin shares dropped 2.6% on Friday to about $591.57, with trading volume slightly below average (1.69M vs. 1.74M shares).
• The company missed earnings per share (reported $5.80 vs. $6.33 expected) but beat revenue estimates ($20.32B vs. $19.84B), and analysts' consensus rating is Hold with an average price target of $645.79.
• Lockheed pays a $3.45 quarterly dividend (annualized $13.80, yield 2.3%), while key metrics show a debt-to-equity ratio of 3.05, a P/E of 27.5, and a market cap of roughly $136.3B.

Lockheed Martin Corporation (NYSE:LMT - Get Free Report)'s stock price traded down 2.6% on Friday . The company traded as low as $588.41 and last traded at $591.5650. 1,694,253 shares changed hands during trading, a decline of 3% from the average session volume of 1,737,776 shares. The stock had previously closed at $607.49.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. TD Cowen upped their target price on shares of Lockheed Martin from $600.00 to $670.00 and gave the stock a "hold" rating in a research report on Friday, January 30th. Weiss Ratings upgraded shares of Lockheed Martin from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 23rd. Robert W. Baird upped their target price on shares of Lockheed Martin from $550.00 to $640.00 and gave the stock an "outperform" rating in a research report on Friday, January 16th. Argus upped their target price on shares of Lockheed Martin from $530.00 to $735.00 and gave the stock a "buy" rating in a research report on Friday, March 6th. Finally, The Goldman Sachs Group upped their target price on shares of Lockheed Martin from $464.00 to $517.00 and gave the stock a "sell" rating in a research report on Monday, February 2nd. Seven investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $645.79.

Lockheed Martin Stock Down 2.6%

The company has a debt-to-equity ratio of 3.05, a current ratio of 1.09 and a quick ratio of 0.94. The company's 50-day simple moving average is $637.67 and its 200 day simple moving average is $550.59. The firm has a market cap of $136.33 billion, a P/E ratio of 27.53, a price-to-earnings-growth ratio of 1.09 and a beta of 0.23.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The aerospace company reported $5.80 EPS for the quarter, missing the consensus estimate of $6.33 by ($0.53). Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. The business had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter last year, the business earned $7.67 EPS. Lockheed Martin's revenue for the quarter was up 9.1% compared to the same quarter last year. Research analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Monday, March 2nd were paid a $3.45 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $13.80 annualized dividend and a dividend yield of 2.3%. Lockheed Martin's dividend payout ratio is currently 64.22%.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds and other institutional investors have recently made changes to their positions in the company. United Financial Planning Group LLC purchased a new stake in shares of Lockheed Martin in the third quarter valued at $25,000. Basso Capital Management L.P. purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC raised its stake in shares of Lockheed Martin by 285.7% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company's stock valued at $27,000 after acquiring an additional 40 shares during the period. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Lockheed Martin in the third quarter valued at $27,000. Finally, Clarity Asset Management Inc. purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at $26,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

Lockheed Martin Company Profile

Lockheed Martin Corporation NYSE: LMT is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin's product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.

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