Lockheed Martin (NYSE:LMT) Stock Price Down 1.6%

Lockheed Martin Co. (NYSE:LMT) fell 1.6% during mid-day trading on Monday . The company traded as low as $538.49 and last traded at $540.21. 510,531 shares were traded during mid-day trading, a decline of 53% from the average session volume of 1,088,513 shares. The stock had previously closed at $548.77.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LMT. Susquehanna boosted their price target on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research report on Wednesday, July 24th. Royal Bank of Canada upgraded shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $500.00 to $600.00 in a research note on Monday. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Citigroup boosted their price target on shares of Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, UBS Group increased their price target on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $534.46.

Lockheed Martin Price Performance

The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. The firm’s 50 day simple moving average is $476.89 and its 200 day simple moving average is $456.78. The stock has a market capitalization of $129.95 billion, a PE ratio of 19.77, a P/E/G ratio of 4.40 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.66. The business had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.73 earnings per share. As a group, equities analysts forecast that Lockheed Martin Co. will post 26.71 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is currently 46.10%.

Insider Activity at Lockheed Martin

In other news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in Lockheed Martin by 130.0% in the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock worth $1,668,000 after acquiring an additional 2,019 shares in the last quarter. Warther Private Wealth LLC boosted its stake in Lockheed Martin by 86.1% in the 4th quarter. Warther Private Wealth LLC now owns 16,369 shares of the aerospace company’s stock worth $7,419,000 after purchasing an additional 7,575 shares during the period. Morningstar Investment Services LLC boosted its stake in Lockheed Martin by 99.6% in the 4th quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock worth $66,697,000 after purchasing an additional 73,774 shares during the period. Cercano Management LLC bought a new position in Lockheed Martin in the 4th quarter worth approximately $29,454,000. Finally, Brevan Howard Capital Management LP boosted its stake in Lockheed Martin by 414.2% in the 4th quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock worth $3,228,000 after purchasing an additional 5,736 shares during the period. Hedge funds and other 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.