Lockheed Martin (NYSE:LMT) Shares Gap Down – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $439.70, but opened at $425.63. Lockheed Martin shares last traded at $435.12, with a volume of 501,598 shares traded.

Analyst Upgrades and Downgrades

LMT has been the subject of several research analyst reports. Susquehanna decreased their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research note on Wednesday, January 29th. StockNews.com raised Lockheed Martin from a “hold” rating to a “buy” rating in a research report on Monday. Royal Bank of Canada decreased their price objective on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Citigroup cut their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Finally, Wells Fargo & Company reiterated an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $544.20.

Lockheed Martin Stock Up 1.8 %

The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The firm has a market capitalization of $104.19 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 2.07 and a beta of 0.43. The firm has a fifty day moving average price of $459.13 and a 200 day moving average price of $512.63.

Lockheed Martin (NYSE:LMT) last released its earnings results 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 return on equity of 101.47% and a net margin of 7.51%. As a group, sell-side analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

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 issued a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.98%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Insider Transactions at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of the 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 directly owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were 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 of the company’s stock, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock valued at $3,155,916 in the last quarter. 0.17% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lockheed Martin

Large investors have recently bought and sold shares of the stock. M1 Capital Management LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at $235,000. DSG Capital Advisors LLC acquired a new position in Lockheed Martin in the 4th quarter valued at about $235,000. Chancellor Financial Group WB LP purchased a new position in Lockheed Martin in the 4th quarter valued at about $209,000. 111 Capital acquired a new stake in shares of Lockheed Martin during the 4th quarter worth about $1,155,000. Finally, Thoma Capital Management LLC purchased a new stake in shares of Lockheed Martin during the fourth quarter worth about $524,000. 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.