Lockheed Martin (NYSE:LMT) Shares Down 1.5% – Here’s What Happened

by · The Markets Daily

Shares of Lockheed Martin Co. (NYSE:LMT – Get Free Report) dropped 1.5% on Friday . The stock traded as low as $446.32 and last traded at $447.91. Approximately 641,201 shares were traded during trading, a decline of 47% from the average daily volume of 1,213,739 shares. The stock had previously closed at $454.78.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Bank of America downgraded shares of 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 research report on Monday, March 24th. Barclays lowered their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. StockNews.com downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Tuesday. Royal Bank of Canada lowered Lockheed Martin from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $550.00 to $480.00 in a research note on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $539.53.

View Our Latest Stock Analysis on LMT

Lockheed Martin Trading Down 4.9 %

The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The firm has a market cap of $101.50 billion, a PE ratio of 19.44, a P/E/G ratio of 2.07 and a beta of 0.39. The company’s 50-day moving average is $452.66 and its 200 day moving average is $507.43.

Lockheed Martin (NYSE:LMT – Get Free Report) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. As a group, sell-side analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were issued a $3.30 dividend. The ex-dividend date was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.05%. Lockheed Martin’s dividend payout ratio is 59.30%.

Insider Buying and Selling

In other 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 completion of the sale, the vice president now directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction that occurred on 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 completion of the sale, the insider now owns 2,000 shares of the company’s stock, 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. Over the last three months, insiders sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Arete Wealth Advisors LLC acquired a new position in shares of Lockheed Martin during the 3rd quarter valued at about $1,840,000. Erste Asset Management GmbH bought a new position in Lockheed Martin during the third quarter valued at about $82,000. Morse Asset Management Inc lifted its holdings in shares of Lockheed Martin by 1.0% during the 3rd quarter. Morse Asset Management Inc now owns 3,058 shares of the aerospace company’s stock worth $1,788,000 after acquiring an additional 31 shares during the period. Resurgent Financial Advisors LLC boosted its position in shares of Lockheed Martin by 3.6% during the 3rd quarter. Resurgent Financial Advisors LLC now owns 1,299 shares of the aerospace company’s stock valued at $759,000 after acquiring an additional 45 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its stake in Lockheed Martin by 2.7% in the third quarter. Royal London Asset Management Ltd. now owns 88,472 shares of the aerospace company’s stock valued at $51,717,000 after acquiring an additional 2,350 shares during the period. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Company Profile

(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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