Lockheed Martin (NYSE:LMT) Shares Down 0.4%

Lockheed Martin Co. (NYSE:LMT) traded down 0.4% during trading on Wednesday . The stock traded as low as $563.32 and last traded at $564.78. 134,740 shares changed hands during trading, a decline of 87% from the average session volume of 1,051,256 shares. The stock had previously closed at $567.01.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Barclays increased their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. UBS Group lifted their price target on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Melius raised Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 target price on the stock in a report on Tuesday, September 3rd. TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and boosted their price target for the company from $480.00 to $560.00 in a report on Wednesday, July 24th. Finally, Wells Fargo & Company raised their price objective on Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $553.43.

Lockheed Martin Stock Performance

The firm’s 50 day simple moving average is $539.25 and its 200 day simple moving average is $486.27. The firm has a market cap of $136.19 billion, a PE ratio of 20.67, a PEG ratio of 4.55 and a beta of 0.47. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10.

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

Lockheed Martin Announces Dividend

The firm also recently announced 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 (DPR) is presently 46.10%.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LMT. GAMMA Investing LLC boosted its holdings in Lockheed Martin by 130.0% during the 2nd quarter. GAMMA Investing LLC now owns 3,572 shares of the aerospace company’s stock valued at $1,668,000 after acquiring an additional 2,019 shares during the period. Morningstar Investment Services LLC boosted its stake 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 purchasing an additional 73,774 shares during the period. Brevan Howard Capital Management LP grew its holdings in shares of Lockheed Martin by 414.2% in the fourth quarter. Brevan Howard Capital Management LP now owns 7,121 shares of the aerospace company’s stock worth $3,228,000 after purchasing an additional 5,736 shares during the last quarter. New Mexico Educational Retirement Board increased its stake in Lockheed Martin by 20.5% in the 1st quarter. New Mexico Educational Retirement Board now owns 14,097 shares of the aerospace company’s stock worth $6,222,000 after buying an additional 2,400 shares during the period. Finally, American National Bank lifted its holdings in Lockheed Martin by 26.8% during the 1st quarter. American National Bank now owns 36,577 shares of the aerospace company’s stock valued at $16,638,000 after buying an additional 7,731 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

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.