Lockheed Martin (NYSE:LMT) Shares Down 2.4% - Here's What Happened

Lockheed Martin Co. (NYSE:LMT - Get Free Report)'s share price dropped 2.4% during mid-day trading on Thursday . The company traded as low as $544.00 and last traded at $544.61. Approximately 332,001 shares changed hands during trading, a decline of 68% from the average daily volume of 1,052,853 shares. The stock had previously closed at $557.73.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Lockheed Martin from $560.00 to $630.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Citigroup boosted their target price on Lockheed Martin from $570.00 to $700.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. Morgan Stanley lifted their target price on Lockheed Martin from $503.00 to $599.00 and gave the company an "equal weight" rating in a research note on Friday, August 9th. Finally, Robert W. Baird increased their price objective on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin currently has a consensus rating of "Moderate Buy" and a consensus target price of $611.00.

Lockheed Martin Price Performance

The stock's 50-day moving average is $577.75 and its 200-day moving average is $523.80. The firm has a market cap of $127.56 billion, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 4.63 and a beta of 0.49. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

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

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.45%. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin's previous quarterly dividend of $3.15. Lockheed Martin's dividend payout ratio (DPR) is presently 47.79%.

Institutional Investors Weigh In On Lockheed Martin

Several hedge funds and other institutional investors have recently made changes to their positions in LMT. Burkett Financial Services LLC acquired a new stake in shares of Lockheed Martin during the third quarter worth $32,000. Mattson Financial Services LLC bought a new stake in Lockheed Martin in the 2nd quarter valued at approximately $27,000. Sachetta LLC boosted its holdings in Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company's stock worth $28,000 after purchasing an additional 20 shares during the last quarter. Wiser Advisor Group LLC boosted its stake in shares of Lockheed Martin by 65.8% during the 1st 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. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Lockheed Martin in the first quarter valued at approximately $30,000. 74.19% of the stock is owned by institutional investors and hedge funds.

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.

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