Shares of Lockheed Martin Co. (NYSE:LMT - Get Free Report) rose 0.7% during mid-day trading on Wednesday . The company traded as high as $447.05 and last traded at $446.66. Approximately 344,798 shares changed hands during trading, a decline of 72% from the average daily volume of 1,226,331 shares. The stock had previously closed at $443.36.
Analysts Set New Price Targets
A number of brokerages recently weighed in on LMT. StockNews.com lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. Truist Financial assumed coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a "buy" rating and a $579.00 target price for the company. Citigroup dropped their target price on Lockheed Martin from $700.00 to $600.00 and set a "buy" rating for the company in a research report on Tuesday, January 21st. Morgan Stanley decreased their price target on Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 29th. Finally, Wells Fargo & Company dropped their price objective on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $536.60.
View Our Latest Stock Analysis on Lockheed Martin
Lockheed Martin Trading Up 2.5 %
The company's fifty day simple moving average is $450.03 and its two-hundred day simple moving average is $500.71. The company has a market capitalization of $111.45 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.
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, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Research analysts forecast that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.
Lockheed Martin Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were given a $3.30 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.78%. Lockheed Martin's dividend payout ratio is presently 59.30%.
Insider Buying and Selling
In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the sale, the insider now owns 2,000 shares of the company's stock, valued at $884,840. This represents a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the firm's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the sale, the vice president now owns 2,278 shares in the company, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of LMT. Millstone Evans Group LLC bought a new position in shares of Lockheed Martin during the 4th quarter worth approximately $32,000. Mizuho Securities Co. Ltd. acquired a new position in Lockheed Martin during the fourth quarter worth $34,000. Heck Capital Advisors LLC bought a new position in Lockheed Martin in the fourth quarter valued at $35,000. Redwood Park Advisors LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at $40,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in Lockheed Martin during the 4th quarter worth about $42,000. 74.19% of the stock is currently owned by institutional investors.
Lockheed Martin Company Profile
(
Get Free Report)
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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