Lockheed Martin (NYSE:LMT) Stock Price Up 1.8% – Here’s Why

Lockheed Martin Co. (NYSE:LMT)’s stock price traded up 1.8% during mid-day trading on Monday . The company traded as high as $451.06 and last traded at $449.41. 404,884 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 1,203,617 shares. The stock had previously closed at $441.49.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and lowered their target price for the company from $685.00 to $485.00 in a research report on Monday, March 24th. Melius lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Susquehanna reduced their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Lockheed Martin in a report on Monday, March 10th. Finally, Melius Research cut Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Lockheed Martin currently has an average rating of “Hold” and a consensus price target of $539.53.

Lockheed Martin Stock Performance

The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The stock has a market cap of $105.55 billion, a P/E ratio of 20.14, a PEG ratio of 2.07 and a beta of 0.43. The business has a 50 day moving average price of $454.45 and a 200 day moving average price of $508.19.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping 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 year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were issued a dividend of $3.30 per share. The ex-dividend date was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.94%. Lockheed Martin’s payout ratio is 59.30%.

Insiders Place Their Bets

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

Institutional Trading of Lockheed Martin

A number of hedge funds have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. bought a new position in shares of Lockheed Martin during the third quarter valued at approximately $26,000. Millstone Evans Group LLC purchased a new stake in Lockheed Martin during the fourth quarter worth $32,000. Mizuho Securities Co. Ltd. bought a new stake in Lockheed Martin during the 4th quarter valued at $34,000. Heck Capital Advisors LLC bought a new stake in Lockheed Martin during the 4th quarter valued at $35,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Lockheed Martin in the 3rd quarter valued at $42,000. 74.19% of the stock is 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.