Lockheed Martin (NYSE:LMT) Trading Down 0.3%

Lockheed Martin Co. (NYSE:LMT) dropped 0.3% on Thursday . The stock traded as low as $562.60 and last traded at $563.89. Approximately 115,550 shares traded hands during trading, a decline of 89% from the average daily volume of 1,049,385 shares. The stock had previously closed at $565.49.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on LMT shares. Susquehanna upped their target price on Lockheed Martin from $540.00 to $565.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $480.00 to $560.00 in a report on Wednesday, July 24th. Barclays increased their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Royal Bank of Canada raised shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $500.00 to $600.00 in a research note on Monday, August 5th. Finally, UBS Group raised their price objective on Lockheed Martin from $511.00 to $538.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $553.43.

Lockheed Martin Price Performance

The stock has a market cap of $137.23 billion, a P/E ratio of 20.93, a P/E/G ratio of 4.55 and a beta of 0.47. The firm has a 50 day moving average price of $545.61 and a 200 day moving average price of $488.34. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

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

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be issued a $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s payout ratio is 46.10%.

Insider Buying and Selling

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares in the company, valued at $4,574,850.72. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lockheed Martin

A number of large investors have recently made changes to their positions in the business. HTLF Bank grew its stake in Lockheed Martin by 3.7% during the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock valued at $264,000 after purchasing an additional 20 shares during the last quarter. tru Independence LLC boosted its position in Lockheed Martin by 2.5% in the second quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock valued at $386,000 after buying an additional 20 shares during the last quarter. Sachetta LLC increased its holdings in Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the period. Twin Lakes Capital Management LLC raised its position in Lockheed Martin by 1.3% during the 2nd quarter. Twin Lakes Capital Management LLC now owns 1,527 shares of the aerospace company’s stock worth $713,000 after buying an additional 20 shares during the last quarter. Finally, Goldstein Advisors LLC lifted its stake in Lockheed Martin by 1.2% during the 2nd quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock valued at $809,000 after acquiring an additional 21 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

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.