Lockheed Martin (NYSE:LMT) Shares Down 0.1%

Lockheed Martin Co. (NYSE:LMT) shares were down 0.1% on Tuesday . The stock traded as low as $565.55 and last traded at $567.53. Approximately 256,775 shares traded hands during trading, a decline of 76% from the average daily volume of 1,066,450 shares. The stock had previously closed at $568.10.

Wall Street Analysts Forecast Growth

LMT has been the topic of a number of recent analyst reports. UBS Group increased their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday. Royal Bank of Canada raised shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $500.00 to $600.00 in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and increased their price objective for the company from $540.00 to $600.00 in a research report on Friday, July 26th. Finally, Morgan Stanley increased their price objective on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $553.43.

Lockheed Martin Price Performance

The company’s 50 day moving average price is $520.31 and its 200 day moving average price is $476.95. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The company has a market cap of $136.43 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 4.56 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. The business had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $6.73 EPS. Equities research analysts forecast that Lockheed Martin Co. will post 26.65 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be issued a $3.15 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.22%. Lockheed Martin’s dividend payout ratio is presently 46.10%.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the transaction, the insider now owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

Several hedge funds have recently added to or reduced their stakes in LMT. Fisher Asset Management LLC increased its holdings in Lockheed Martin by 7.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,989 shares of the aerospace company’s stock valued at $3,168,000 after acquiring an additional 500 shares in the last quarter. Aveo Capital Partners LLC increased its holdings in Lockheed Martin by 4.1% during the 4th quarter. Aveo Capital Partners LLC now owns 661 shares of the aerospace company’s stock valued at $300,000 after acquiring an additional 26 shares in the last quarter. Gryphon Financial Partners LLC boosted its stake in shares of Lockheed Martin by 111.1% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,297 shares of the aerospace company’s stock worth $1,026,000 after purchasing an additional 1,209 shares during the last quarter. Everpar Advisors LLC acquired a new stake in shares of Lockheed Martin during the 4th quarter worth about $436,000. Finally, National Pension Service boosted its stake in shares of Lockheed Martin by 1.9% during the 4th quarter. National Pension Service now owns 366,339 shares of the aerospace company’s stock worth $166,039,000 after purchasing an additional 6,769 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

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.