Lockheed Martin (NYSE:LMT) Trading Up 0.6% – Here’s What Happened

Shares of Lockheed Martin Co. (NYSE:LMT) rose 0.6% on Tuesday . The company traded as high as $450.20 and last traded at $449.46. Approximately 232,097 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 1,641,420 shares. The stock had previously closed at $446.71.

Analyst Ratings Changes

A number of research firms have recently issued reports on LMT. Melius cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Barclays lowered their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Truist Financial began coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $539.53.

Lockheed Martin Stock Performance

The stock has a market capitalization of $106.24 billion, a P/E ratio of 20.35, a PEG ratio of 2.07 and a beta of 0.39. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The company has a 50-day moving average price of $453.52 and a two-hundred day moving average price of $507.80.

Lockheed Martin (NYSE:LMT) last posted its 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 net margin of 7.51% and a return on equity of 101.47%. Equities analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, 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 transaction of $312,925.27. Following the sale, the vice president now owns 2,278 shares in the company, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $1,421,495.46. Following the transaction, the insider now owns 2,000 shares in the company, valued at $884,840. This trade represents a 61.63 % 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 valued at $3,155,916 in the last 90 days. Corporate insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Virtue Capital Management LLC boosted its position in Lockheed Martin by 112.8% during the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after buying an additional 1,192 shares during the period. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in shares of Lockheed Martin by 51.7% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock valued at $4,630,000 after acquiring an additional 3,247 shares during the last quarter. Capital Investment Advisors LLC boosted its holdings in Lockheed Martin by 2.2% during the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after acquiring an additional 2,011 shares during the period. Brady Martz Wealth Solutions LLC bought a new position in Lockheed Martin during the 4th quarter worth approximately $1,266,000. Finally, World Investment Advisors LLC increased its stake in Lockheed Martin by 55.1% in the 3rd quarter. World Investment Advisors LLC now owns 6,468 shares of the aerospace company’s stock worth $3,781,000 after purchasing an additional 2,297 shares during the period. 74.19% of the stock is currently owned by institutional investors.

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.