Lockheed Martin (NYSE:LMT) Trading 0.4% Higher – Here’s Why

Shares of Lockheed Martin Co. (NYSE:LMT) shot up 0.4% during mid-day trading on Tuesday . The company traded as high as $439.35 and last traded at $436.64. 322,640 shares were traded during mid-day trading, a decline of 72% from the average session volume of 1,138,119 shares. The stock had previously closed at $434.98.

Analyst Ratings Changes

LMT has been the subject of a number of recent analyst reports. Melius cut Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday. Susquehanna cut their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, January 29th. Citigroup lowered their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Truist Financial initiated coverage on Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price target for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $544.20.

Lockheed Martin Stock Up 1.8 %

The firm has a 50-day simple moving average of $459.96 and a two-hundred day simple moving average of $513.50. The stock has a market cap of $104.22 billion, a P/E ratio of 19.89, a PEG ratio of 2.07 and a beta of 0.43. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Equities research analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Insiders Place Their Bets

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the sale, the insider now directly owns 2,000 shares in the company, valued at $884,840. This represents a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the transaction, the vice president now 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. Insiders have sold a total of 7,133 shares of company stock worth $3,155,916 in the last 90 days. Company insiders own 0.17% of the company’s stock.

Institutional Trading of Lockheed Martin

Several large investors have recently made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Lockheed Martin in the 3rd quarter valued at $26,000. Millstone Evans Group LLC acquired a new stake in Lockheed Martin in the fourth quarter valued at about $32,000. Mizuho Securities Co. Ltd. acquired a new stake in Lockheed Martin in the fourth quarter valued at about $34,000. Heck Capital Advisors LLC bought a new position in Lockheed Martin in the fourth quarter valued at about $35,000. Finally, Redwood Park Advisors LLC acquired a new position in Lockheed Martin during the fourth quarter worth about $40,000. Institutional investors and hedge funds 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.