Lockheed Martin (NYSE:LMT) Trading Up 0.3% – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT) was up 0.3% during trading on Friday . The stock traded as high as $450.68 and last traded at $447.67. Approximately 236,686 shares were traded during trading, a decline of 85% from the average daily volume of 1,543,371 shares. The stock had previously closed at $446.46.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LMT. StockNews.com lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Barclays decreased their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Royal Bank of Canada lowered their price objective on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. Wells Fargo & Company cut their target price on Lockheed Martin from $497.00 to $468.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, JPMorgan Chase & Co. dropped their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $553.67.

Lockheed Martin Stock Performance

The stock has a market cap of $105.97 billion, a PE ratio of 20.22, a P/E/G ratio of 2.07 and a beta of 0.48. The firm’s 50-day moving average is $465.79 and its 200 day moving average is $525.10. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, research analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.93%. Lockheed Martin’s payout ratio is 59.30%.

Insider Activity

In other news, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the sale, the vice president now owns 2,278 shares of the company’s stock, valued at $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the transaction, the insider now owns 2,000 shares in the company, valued at approximately $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,133 shares of company stock valued at $3,155,916. Company insiders own 0.17% of the company’s stock.

Institutional Trading of Lockheed Martin

Institutional investors have recently modified their holdings of the business. abrdn plc lifted its stake in shares of Lockheed Martin by 14.8% in the third quarter. abrdn plc now owns 21,036 shares of the aerospace company’s stock valued at $12,240,000 after purchasing an additional 2,707 shares during the period. Hills Bank & Trust Co increased its holdings in Lockheed Martin by 3.3% in the third quarter. Hills Bank & Trust Co now owns 628 shares of the aerospace company’s stock valued at $367,000 after buying an additional 20 shares in the last quarter. Campbell Wealth Management acquired a new stake in shares of Lockheed Martin during the 3rd quarter valued at approximately $331,000. Capital Advisors Inc. OK lifted its position in shares of Lockheed Martin by 2.3% during the 3rd quarter. Capital Advisors Inc. OK now owns 94,229 shares of the aerospace company’s stock valued at $55,082,000 after acquiring an additional 2,120 shares during the period. Finally, Weatherly Asset Management L. P. boosted its stake in shares of Lockheed Martin by 9.4% during the 3rd quarter. Weatherly Asset Management L. P. now owns 15,188 shares of the aerospace company’s stock worth $8,878,000 after acquiring an additional 1,300 shares in 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.