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

Lockheed Martin Co. (NYSE:LMT - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $503.69, but opened at $473.70. Lockheed Martin shares last traded at $463.21, with a volume of 498,951 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Robert W. Baird lifted their price objective on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Susquehanna cut their price objective on Lockheed Martin from $695.00 to $590.00 and set a "positive" rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company lowered their target price on shares of Lockheed Martin from $543.00 to $500.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 8th. Citigroup cut their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of "Moderate Buy" and a consensus price target of $577.73.

Lockheed Martin Stock Performance

The business has a fifty day moving average of $498.68 and a 200-day moving average of $537.59. The company has a market cap of $108.54 billion, a PE ratio of 16.58, a P/E/G ratio of 4.05 and a beta of 0.48. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced 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 101.44% and a net margin of 9.36%. Equities research analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently disclosed 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. This represents a $13.20 dividend on an annualized basis and a yield of 2.88%. Lockheed Martin's dividend payout ratio (DPR) is 47.79%.

Institutional Trading of Lockheed Martin

A number of hedge funds and other institutional investors have recently modified their holdings of LMT. Geode Capital Management LLC increased its stake in Lockheed Martin by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company's stock valued at $2,816,898,000 after purchasing an additional 83,997 shares in the last quarter. FMR LLC increased its position in shares of Lockheed Martin by 6.6% during the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company's stock valued at $1,981,088,000 after acquiring an additional 209,591 shares in the last quarter. Wellington Management Group LLP raised its holdings in Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company's stock worth $1,797,437,000 after acquiring an additional 240,306 shares during the last quarter. International Assets Investment Management LLC lifted its position in Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company's stock valued at $911,433,000 after acquiring an additional 1,556,609 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Lockheed Martin by 2.1% in the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company's stock worth $382,498,000 after purchasing an additional 13,253 shares in the last quarter. 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.