Lockheed Martin (NYSE:LMT) Stock Price Up 0.9% - Still a Buy?

Lockheed Martin Co. (NYSE:LMT - Get Free Report) shot up 0.9% during mid-day trading on Thursday . The stock traded as high as $446.17 and last traded at $445.38. 362,356 shares were traded during trading, a decline of 77% from the average session volume of 1,547,984 shares. The stock had previously closed at $441.50.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LMT. StockNews.com lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. JPMorgan Chase & Co. lowered their price objective on shares of Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. UBS Group lowered their price objective on shares of Lockheed Martin from $527.00 to $508.00 and set a "neutral" rating on the stock in a report on Wednesday, January 29th. Royal Bank of Canada lowered their price objective on shares of Lockheed Martin from $570.00 to $550.00 and set an "outperform" rating on the stock in a report on Wednesday, January 29th. Finally, Barclays lowered their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating on the stock in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Lockheed Martin has a consensus rating of "Moderate Buy" and a consensus price target of $553.67.

Lockheed Martin Trading Up 0.8 %

The stock has a market cap of $105.97 billion, a P/E ratio of 20.22, a PEG ratio of 2.07 and a beta of 0.48. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The stock's fifty day moving average price is $465.79 and its 200 day moving average price is $524.83.

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 net margin of 7.51% and a return on equity of 101.47%. Equities research analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin's dividend payout ratio (DPR) is 59.30%.

Insiders Place Their Bets

In other 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Harry Edward Paul III sold 707 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the sale, the vice president now directly owns 2,278 shares of the company's stock, valued at $1,008,265.58. The trade was a 23.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. abrdn plc increased its stake in Lockheed Martin by 14.8% in the third quarter. abrdn plc now owns 21,036 shares of the aerospace company's stock worth $12,240,000 after purchasing an additional 2,707 shares during the period. Hills Bank & Trust Co increased its stake in Lockheed Martin by 3.3% in the third quarter. Hills Bank & Trust Co now owns 628 shares of the aerospace company's stock worth $367,000 after purchasing an additional 20 shares during the period. Campbell Wealth Management purchased a new stake in Lockheed Martin in the third quarter worth $331,000. Capital Advisors Inc. OK increased its stake in Lockheed Martin by 2.3% in the third quarter. Capital Advisors Inc. OK now owns 94,229 shares of the aerospace company's stock worth $55,082,000 after purchasing an additional 2,120 shares during the period. Finally, Weatherly Asset Management L. P. increased its stake in Lockheed Martin by 9.4% in the third quarter. Weatherly Asset Management L. P. now owns 15,188 shares of the aerospace company's stock worth $8,878,000 after purchasing an additional 1,300 shares during the period. 74.19% of the stock is currently 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.