Lockheed Martin (NYSE:LMT) Shares Down 3.2% - Here's What Happened

Key Points

• Lockheed Martin shares fell 3.2% to $543.44 in midday trading, with volume down 30% from the average.
• Analyst price targets were mixed, ranging from $600 to $691, while the overall consensus remained a “Hold” rating with a $632.39 target.
• The company exceeded quarterly earnings and revenue estimates, reported 10.5% year-over-year revenue growth, and declared a $3.45 quarterly dividend, equivalent to a 2.5% yield.

Lockheed Martin Corporation (NYSE:LMT - Get Free Report)'s stock price dropped 3.2% during mid-day trading on Tuesday . The company traded as low as $541.55 and last traded at $543.44. 1,041,540 shares traded hands during trading, a decline of 30% from the average daily volume of 1,493,057 shares. The stock had previously closed at $561.23.

Analysts Set New Price Targets

Several research analysts recently commented on LMT shares. Citigroup raised their price target on shares of Lockheed Martin from $641.00 to $691.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Jefferies Financial Group reiterated a "hold" rating on shares of Lockheed Martin in a research note on Sunday, July 26th. Royal Bank Of Canada raised their target price on shares of Lockheed Martin from $575.00 to $600.00 and gave the company a "sector perform" rating in a research note on Friday, July 24th. Morgan Stanley upped their price target on shares of Lockheed Martin from $653.00 to $690.00 and gave the stock an "equal weight" rating in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Lockheed Martin from $680.00 to $605.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Lockheed Martin has a consensus rating of "Hold" and a consensus target price of $632.39.

Lockheed Martin Stock Performance

The firm has a market cap of $125.42 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 0.97 and a beta of 0.10. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.19 and a quick ratio of 1.01. The company has a fifty day moving average price of $553.07 and a two-hundred day moving average price of $572.82.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its earnings results on Thursday, July 23rd. The aerospace company reported $7.94 EPS for the quarter, beating the consensus estimate of $7.22 by $0.72. The business had revenue of $20.06 billion during the quarter, compared to the consensus estimate of $19.34 billion. Lockheed Martin had a return on equity of 91.42% and a net margin of 8.16%.Lockheed Martin's revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.46 earnings per share. Lockheed Martin has set its FY 2026 guidance at 29.950-30.650 EPS. As a group, equities research analysts expect that Lockheed Martin Corporation will post 30.39 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Tuesday, September 1st will be paid a $3.45 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $13.80 annualized dividend and a dividend yield of 2.5%. Lockheed Martin's payout ratio is presently 50.87%.

Hedge Funds Weigh In On Lockheed Martin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Corient Private Wealth LP increased its holdings in shares of Lockheed Martin by 3.8% during the 2nd quarter. Corient Private Wealth LP now owns 180,813 shares of the aerospace company's stock worth $92,117,000 after acquiring an additional 6,666 shares during the last quarter. Principia Wealth Advisory LLC grew its stake in Lockheed Martin by 1,972.7% during the second quarter. Principia Wealth Advisory LLC now owns 228 shares of the aerospace company's stock worth $116,000 after buying an additional 217 shares in the last quarter. Amundi increased its holdings in Lockheed Martin by 14.5% in the 2nd quarter. Amundi now owns 29,010 shares of the aerospace company's stock valued at $14,779,000 after buying an additional 3,677 shares during the period. HighTower Advisors LLC raised its position in shares of Lockheed Martin by 4.8% in the 2nd quarter. HighTower Advisors LLC now owns 412,521 shares of the aerospace company's stock valued at $210,163,000 after buying an additional 18,971 shares in the last quarter. Finally, Groupe la Francaise raised its position in shares of Lockheed Martin by 95.7% in the 2nd quarter. Groupe la Francaise now owns 90 shares of the aerospace company's stock valued at $43,000 after buying an additional 44 shares in the last quarter. 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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