Lockheed Martin (NYSE:LMT) Shares Up 0.4% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT)’s share price was up 0.4% during mid-day trading on Thursday . The stock traded as high as $438.00 and last traded at $434.88. Approximately 358,088 shares were traded during trading, a decline of 77% from the average daily volume of 1,536,640 shares. The stock had previously closed at $432.95.

Analysts Set New Price Targets

A number of research firms have weighed in on LMT. StockNews.com cut shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Wells Fargo & Company reduced their price target on Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating for the company in a report on Thursday, January 30th. UBS Group dropped their price objective on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. Citigroup reduced their target price on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada dropped their price target on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $555.60.

Lockheed Martin Trading Up 1.1 %

The firm has a market cap of $103.86 billion, a P/E ratio of 19.82, a P/E/G ratio of 2.07 and a beta of 0.48. The business’s 50-day moving average is $469.94 and its two-hundred day moving average is $528.97. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating 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, analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.99%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Hedge Funds Weigh In On Lockheed Martin

Several hedge funds and other institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in Lockheed Martin by 17.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after purchasing an additional 1,132,461 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Lockheed Martin by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock worth $2,374,557,000 after buying an additional 59,597 shares during the period. FMR LLC grew its holdings in Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after buying an additional 209,591 shares in the last quarter. Wellington Management Group LLP increased its position in Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after acquiring an additional 240,306 shares during the period. Finally, Northern Trust Corp increased its position in Lockheed Martin by 6.3% in the 4th quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company’s stock valued at $1,098,667,000 after acquiring an additional 134,662 shares during the period. Institutional investors and hedge funds 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.