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

Lockheed Martin Co. (NYSE:LMT - Get Free Report)'s stock price gapped down before the market opened on Thursday . The stock had previously closed at $477.08, but opened at $461.64. Lockheed Martin shares last traded at $457.22, with a volume of 613,058 shares.

Wall Street Analyst Weigh In

LMT has been the subject of a number of recent research reports. Melius Research downgraded Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Royal Bank of Canada cut shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and decreased their target price for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Morgan Stanley upgraded shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price target on the stock in a report on Wednesday, April 16th. 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. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating and cut their target price for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, Lockheed Martin has a consensus rating of "Hold" and a consensus target price of $539.93.

Lockheed Martin Price Performance

The company's 50-day simple moving average is $452.24 and its 200 day simple moving average is $495.75. 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 capitalization of $107.52 billion, a price-to-earnings ratio of 20.59, a P/E/G ratio of 2.07 and a beta of 0.39.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings data 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%. Equities research analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin's payout ratio is 59.30%.

Insider Activity at Lockheed Martin

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now owns 2,000 shares of the company's stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 $1,008,265.58. This trade represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,133 shares of company stock worth $3,155,916. 0.14% of the stock is owned by insiders.

Institutional Investors Weigh In On Lockheed Martin

Several hedge funds have recently modified their holdings of LMT. Millstone Evans Group LLC bought a new stake in Lockheed Martin in the 4th quarter valued at $32,000. Mizuho Securities Co. Ltd. acquired a new position in Lockheed Martin in the 4th quarter valued at approximately $34,000. Heck Capital Advisors LLC bought a new stake in shares of Lockheed Martin in the 4th quarter worth approximately $35,000. Redwood Park Advisors LLC acquired a new stake in shares of Lockheed Martin during the 4th quarter worth approximately $40,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Lockheed Martin during the fourth quarter valued at approximately $42,000. 74.19% of the stock is owned by 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.