Lockheed Martin (NYSE:LMT) Shares Gap Down - What's Next?

Lockheed Martin Co. (NYSE:LMT - Get Free Report) gapped down prior to trading 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 trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LMT shares. JPMorgan Chase & Co. dropped their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating on the stock in a research report on Thursday. Truist Financial assumed coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a "buy" rating and a $579.00 price objective for the company. Royal Bank of Canada decreased their price target on shares of Lockheed Martin from $570.00 to $550.00 and set an "outperform" rating for the company in a research note on Wednesday. Morgan Stanley decreased their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating for the company in a research note on Wednesday. Finally, Citigroup decreased 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Lockheed Martin has a consensus rating of "Moderate Buy" and a consensus price target of $555.80.

Lockheed Martin Stock Performance

The company's fifty day simple moving average is $495.56 and its 200 day simple moving average is $536.97. 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 has a market capitalization of $108.83 billion, a P/E ratio of 16.62, a P/E/G ratio of 4.05 and a beta of 0.48.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin's payout ratio is 47.79%.

Institutional Trading of Lockheed Martin

A number of hedge funds have recently made changes to their positions in the stock. CVA Family Office LLC lifted its holdings in shares of Lockheed Martin by 1.1% during the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company's stock worth $905,000 after acquiring an additional 17 shares during the last quarter. AllGen Financial Advisors Inc. lifted its holdings in shares of Lockheed Martin by 4.0% during the 3rd quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company's stock worth $274,000 after acquiring an additional 18 shares during the last quarter. Salomon & Ludwin LLC lifted its holdings in shares of Lockheed Martin by 20.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company's stock worth $62,000 after acquiring an additional 18 shares during the last quarter. Sunburst Financial Group LLC lifted its holdings in shares of Lockheed Martin by 3.3% during the 3rd quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company's stock worth $331,000 after acquiring an additional 18 shares during the last quarter. Finally, Quad Cities Investment Group LLC lifted its holdings in shares of Lockheed Martin by 1.2% during the 3rd quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company's stock worth $919,000 after acquiring an additional 19 shares during the last quarter. 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.