Lockheed Martin (NYSE:LMT) Shares Down 0.3%

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LMT. Royal Bank of Canada raised shares of Lockheed Martin from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $500.00 to $600.00 in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft raised Lockheed Martin from a “hold” rating to a “buy” rating and raised their target price for the company from $540.00 to $600.00 in a report on Friday, July 26th. Morgan Stanley upped their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research note on Friday, August 9th. TD Cowen upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and upped their target price for the stock from $480.00 to $560.00 in a research report on Wednesday, July 24th. Finally, Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $553.43.

Lockheed Martin Price Performance

The firm has a market capitalization of $135.39 billion, a P/E ratio of 20.63, a P/E/G ratio of 4.55 and a beta of 0.47. The business’s fifty day moving average is $541.35 and its 200 day moving average is $486.83. 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 released 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 for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.73 earnings per share. As a group, analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $12.60 dividend on an annualized basis and a yield of 2.23%. Lockheed Martin’s payout ratio is 46.10%.

Insider Activity

In other news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following 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 document filed with the SEC, which is accessible through the SEC website. 0.17% of the stock is owned by corporate insiders.

Institutional Trading of Lockheed Martin

Several hedge funds have recently added to or reduced their stakes in the business. HTLF Bank lifted its position in shares of Lockheed Martin by 3.7% in the 2nd quarter. HTLF Bank now owns 565 shares of the aerospace company’s stock worth $264,000 after acquiring an additional 20 shares during the period. tru Independence LLC boosted its stake in Lockheed Martin by 2.5% during the second quarter. tru Independence LLC now owns 827 shares of the aerospace company’s stock worth $386,000 after buying an additional 20 shares in 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 valued at $28,000 after buying an additional 20 shares during the period. Twin Lakes Capital Management LLC increased its holdings in Lockheed Martin by 1.3% in the 2nd quarter. Twin Lakes Capital Management LLC now owns 1,527 shares of the aerospace company’s stock valued at $713,000 after buying an additional 20 shares during the period. Finally, Goldstein Advisors LLC raised its stake in shares of Lockheed Martin by 1.2% in the 2nd quarter. Goldstein Advisors LLC now owns 1,731 shares of the aerospace company’s stock valued at $809,000 after buying an additional 21 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

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.