Lockheed Martin (NYSE:LMT) Stock Price Down 1.3%

Lockheed Martin Co. (NYSE:LMTGet Free Report)’s stock price was down 1.3% on Friday . The stock traded as low as $459.69 and last traded at $460.13. Approximately 140,535 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 1,076,226 shares. The stock had previously closed at $466.03.

Analysts Set New Price Targets

Several research firms have commented on LMT. JPMorgan Chase & Co. upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $475.00 to $518.00 in a research report on Monday, April 15th. Citigroup raised their target price on Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. UBS Group boosted their price target on Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Finally, Wells Fargo & Company upped their price objective on shares of Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Hold” and an average target price of $485.40.

Check Out Our Latest Stock Analysis on LMT

Lockheed Martin Price Performance

The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.11 and a current ratio of 1.30. The company’s 50 day moving average price is $465.22 and its 200-day moving average price is $450.99. The company has a market cap of $110.89 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 4.39 and a beta of 0.46.

Lockheed Martin (NYSE:LMTGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.80 by $0.53. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The firm had revenue of $17.20 billion for the quarter, compared to analyst estimates of $16.04 billion. During the same quarter in the previous year, the business posted $6.43 earnings per share. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. On average, equities research analysts forecast that Lockheed Martin Co. will post 26.17 earnings per share 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 paid a $3.15 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.73%. Lockheed Martin’s dividend payout ratio is currently 46.10%.

Institutional Trading of Lockheed Martin

A number of hedge funds have recently bought and sold shares of the company. 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 grew its holdings in shares of Lockheed Martin by 99.6% during the fourth quarter. Morningstar Investment Services LLC now owns 147,811 shares of the aerospace company’s stock valued at $66,697,000 after buying an additional 73,774 shares in the last quarter. AdvisorNet Financial Inc raised its position in Lockheed Martin by 0.4% during the fourth quarter. AdvisorNet Financial Inc now owns 7,741 shares of the aerospace company’s stock valued at $3,509,000 after buying an additional 29 shares during the period. Cercano Management LLC purchased a new stake in Lockheed Martin in the 4th quarter worth about $29,454,000. Finally, Brevan Howard Capital Management LP boosted its position in Lockheed Martin by 414.2% during the 4th quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock worth $3,228,000 after acquiring an additional 5,736 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

About Lockheed Martin

(Get Free Report)

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.

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