Lockheed Martin (NYSE:LMT) Shares Up 1.6% – Here’s Why

Lockheed Martin Co. (NYSE:LMT)’s share price rose 1.6% on Wednesday . The company traded as high as $451.20 and last traded at $449.11. Approximately 315,308 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 1,137,860 shares. The stock had previously closed at $442.07.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LMT shares. Susquehanna decreased their target price 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. Truist Financial began coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective on the stock. Citigroup dropped their target price on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Bank of America cut Lockheed Martin from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $685.00 to $485.00 in a report on Monday. Finally, Morgan Stanley lowered their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $544.20.

Lockheed Martin Stock Performance

The company’s 50-day moving average price is $459.13 and its two-hundred day moving average price is $512.63. The company has a market capitalization of $105.19 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping analysts’ consensus estimates 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 anticipate that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.95%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Insiders Place Their Bets

In related news, VP Harry Edward Paul III sold 707 shares of the business’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 completion of 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,133 shares of company stock worth $3,155,916. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of Lockheed Martin

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vinva Investment Management Ltd lifted its stake in Lockheed Martin by 3.0% during the 3rd quarter. Vinva Investment Management Ltd now owns 656 shares of the aerospace company’s stock valued at $382,000 after acquiring an additional 19 shares in the last quarter. Widmann Financial Services Inc. lifted its holdings in Lockheed Martin by 2.1% during the third quarter. Widmann Financial Services Inc. now owns 968 shares of the aerospace company’s stock worth $566,000 after acquiring an additional 20 shares during the period. CFS Investment Advisory Services LLC boosted its position in Lockheed Martin by 2.0% in the fourth quarter. CFS Investment Advisory Services LLC now owns 1,091 shares of the aerospace company’s stock worth $530,000 after purchasing an additional 21 shares during the last quarter. Wynn Capital LLC grew its stake in Lockheed Martin by 1.0% in the 4th quarter. Wynn Capital LLC now owns 2,185 shares of the aerospace company’s stock valued at $1,062,000 after purchasing an additional 22 shares during the period. Finally, PBMares Wealth Management LLC increased its position in shares of Lockheed Martin by 0.6% during the 4th quarter. PBMares Wealth Management LLC now owns 3,745 shares of the aerospace company’s stock valued at $1,820,000 after purchasing an additional 22 shares during the last quarter. Institutional investors 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.