Lockheed Martin (NYSE:LMT) Shares Up 0.7% - Here's What Happened

Lockheed Martin Co. (NYSE:LMT - Get Free Report)'s share price shot up 0.7% on Wednesday . The stock traded as high as $447.05 and last traded at $446.66. 344,798 shares traded hands during trading, a decline of 72% from the average session volume of 1,226,331 shares. The stock had previously closed at $443.36.

Wall Street Analyst Weigh In

A number of research firms recently commented on LMT. JPMorgan Chase & Co. reduced their target price on Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Bank of America cut shares of Lockheed Martin from a "buy" rating to a "neutral" rating and reduced their price target for the company from $685.00 to $485.00 in a research report on Monday, March 24th. Morgan Stanley lowered their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating for the company in a report on Wednesday, January 29th. Royal Bank of Canada lowered shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and reduced their target price for the company from $550.00 to $480.00 in a report on Thursday, March 27th. Finally, UBS Group cut their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a "neutral" rating for the company in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Lockheed Martin has a consensus rating of "Hold" and a consensus target price of $536.60.

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Lockheed Martin Stock Performance

The company's 50-day moving average price is $450.03 and its 200 day moving average price is $500.71. The stock has a market capitalization of $111.45 billion, a PE ratio of 21.34, a PEG ratio of 2.07 and a beta of 0.39. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating 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%. On average, equities research analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.78%. The ex-dividend date was Monday, March 3rd. Lockheed Martin's dividend payout ratio is currently 59.30%.

Insider Transactions at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the sale, the insider now owns 2,000 shares in the company, valued at approximately $884,840. This represents a 61.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now owns 2,278 shares of the company's stock, valued at $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. Insiders have sold 7,133 shares of company stock valued at $3,155,916 in the last three months. 0.17% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lockheed Martin

Several large investors have recently modified their holdings of LMT. Millstone Evans Group LLC purchased a new position in Lockheed Martin in the fourth quarter worth about $32,000. Mizuho Securities Co. Ltd. purchased a new position in Lockheed Martin in the 4th quarter worth approximately $34,000. Heck Capital Advisors LLC bought a new position in Lockheed Martin in the 4th quarter valued at approximately $35,000. Redwood Park Advisors LLC purchased a new stake in Lockheed Martin during the 4th quarter valued at $40,000. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of Lockheed Martin in the fourth quarter worth $42,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

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.