Lockheed Martin (NYSE:LMT) Shares Up 1.2% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT)’s stock price was up 1.2% during mid-day trading on Monday . The stock traded as high as $454.43 and last traded at $452.64. Approximately 351,663 shares were traded during trading, a decline of 77% from the average daily volume of 1,542,329 shares. The stock had previously closed at $447.07.

Wall Street Analysts Forecast Growth

LMT has been the topic of a number of recent analyst reports. Susquehanna cut their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. Morgan Stanley decreased their target price on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Citigroup cut their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. StockNews.com cut Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company dropped their target price on Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $553.67.

Lockheed Martin Stock Up 1.0 %

The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The business’s 50 day moving average price is $465.79 and its 200 day moving average price is $524.83. The firm has a market cap of $106.26 billion, a PE ratio of 20.28, a PEG ratio of 2.07 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. On average, equities research analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.92%. Lockheed Martin’s payout ratio is 59.30%.

Insider Activity at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 2,000 shares of the company’s stock, valued at $884,840. This represents a 61.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 of the company’s stock, valued at $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of LMT. Lmcg Investments LLC boosted its position in shares of Lockheed Martin by 3.0% during the 3rd quarter. Lmcg Investments LLC now owns 651 shares of the aerospace company’s stock worth $381,000 after purchasing an additional 19 shares during the period. Klingman & Associates LLC lifted its stake in Lockheed Martin by 1.1% during the third quarter. Klingman & Associates LLC now owns 1,729 shares of the aerospace company’s stock worth $1,011,000 after purchasing an additional 19 shares in the last quarter. Platform Technology Partners boosted its position in shares of Lockheed Martin by 0.5% during the third quarter. Platform Technology Partners now owns 4,122 shares of the aerospace company’s stock worth $2,409,000 after buying an additional 19 shares during the period. Assetmark Inc. boosted its holdings in Lockheed Martin by 1.3% during the 3rd quarter. Assetmark Inc. now owns 1,470 shares of the aerospace company’s stock valued at $859,000 after acquiring an additional 19 shares during the period. Finally, Vinva Investment Management Ltd increased its stake in Lockheed Martin by 3.0% during the third quarter. Vinva Investment Management Ltd now owns 656 shares of the aerospace company’s stock worth $382,000 after purchasing an additional 19 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Company Profile

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.