Lockheed Martin (NYSE:LMT) Stock Price Down 0.7% – Here’s Why

Lockheed Martin Co. (NYSE:LMT)’s share price was down 0.7% during trading on Monday . The stock traded as low as $531.19 and last traded at $531.19. Approximately 163,867 shares changed hands during trading, a decline of 85% from the average daily volume of 1,059,383 shares. The stock had previously closed at $534.83.

Analysts Set New Price Targets

Several equities analysts have recently commented on LMT shares. Bank of America reiterated a “buy” rating and set a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. Wells Fargo & Company raised their price objective on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their price objective on Lockheed Martin from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective on the stock in a research note on Tuesday, September 3rd. Finally, Morgan Stanley raised their price objective on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $611.00.

Lockheed Martin Price Performance

The company has a market capitalization of $125.92 billion, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 4.37 and a beta of 0.49. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The business has a fifty day moving average price of $576.52 and a 200 day moving average price of $525.23.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same period last year, the company earned $6.77 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, research analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.48%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is currently 47.79%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LMT. Covestor Ltd boosted its position in shares of Lockheed Martin by 11.2% in the 1st quarter. Covestor Ltd now owns 447 shares of the aerospace company’s stock valued at $203,000 after purchasing an additional 45 shares during the period. PYA Waltman Capital LLC boosted its position in Lockheed Martin by 14.3% during the 1st quarter. PYA Waltman Capital LLC now owns 3,729 shares of the aerospace company’s stock worth $1,696,000 after acquiring an additional 467 shares during the period. Lake Street Advisors Group LLC boosted its position in Lockheed Martin by 425.0% during the 1st quarter. Lake Street Advisors Group LLC now owns 6,715 shares of the aerospace company’s stock worth $3,055,000 after acquiring an additional 5,436 shares during the period. RB Capital Management LLC raised its stake in shares of Lockheed Martin by 5.0% during the 1st quarter. RB Capital Management LLC now owns 4,172 shares of the aerospace company’s stock worth $1,898,000 after purchasing an additional 197 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in shares of Lockheed Martin by 219.3% during the 1st quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock worth $149,138,000 after purchasing an additional 218,466 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.