Lockheed Martin (NYSE:LMT) Shares Down 1.1% - Here's What Happened

Shares of Lockheed Martin Co. (NYSE:LMT - Get Free Report) fell 1.1% during trading on Wednesday . The stock traded as low as $557.24 and last traded at $559.90. 223,832 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 1,052,062 shares. The stock had previously closed at $565.96.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LMT. TD Cowen increased their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. Barclays lifted their target price on shares of Lockheed Martin from $505.00 to $565.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 29th. Melius upgraded shares of Lockheed Martin from a "hold" rating to a "buy" rating and set a $704.00 price objective for the company in a research report on Tuesday, September 3rd. Finally, UBS Group raised their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lockheed Martin has an average rating of "Moderate Buy" and a consensus target price of $611.00.

Lockheed Martin Trading Down 1.3 %

The stock has a market capitalization of $132.46 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 4.63 and a beta of 0.49. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The stock's fifty day moving average price is $578.09 and its two-hundred day moving average price is $523.56.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company's quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.77 EPS. Equities research analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. This is a boost from Lockheed Martin's previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a yield of 2.36%. Lockheed Martin's payout ratio is presently 45.62%.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds have recently bought and sold shares of the company. Mattson Financial Services LLC bought a new position in Lockheed Martin during the 2nd quarter valued at about $27,000. Sachetta LLC boosted its holdings in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company's stock worth $28,000 after buying an additional 20 shares during the last quarter. Wiser Advisor Group LLC boosted its holdings in shares of Lockheed Martin by 65.8% in the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company's stock worth $29,000 after buying an additional 25 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Lockheed Martin in the first quarter worth approximately $30,000. Finally, Stephens Consulting LLC raised its holdings in Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company's stock worth $31,000 after purchasing an additional 22 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.