Lockheed Martin (NYSE:LMT) Shares Down 0.2% - Here's What Happened

Lockheed Martin Co. (NYSE:LMT - Get Free Report)'s share price dropped 0.2% during trading on Thursday . The company traded as low as $455.85 and last traded at $461.14. Approximately 413,311 shares changed hands during trading, a decline of 66% from the average daily volume of 1,232,298 shares. The stock had previously closed at $462.24.

Analyst Ratings Changes

Several brokerages recently weighed in on LMT. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating and cut their price target for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Bank of America downgraded shares of Lockheed Martin from a "buy" rating to a "neutral" rating and decreased their target price for the company from $685.00 to $485.00 in a research report on Monday, March 24th. Morgan Stanley cut their price target on Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. 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 on the stock. Finally, JPMorgan Chase & Co. reduced their price target on Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $536.60.

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Lockheed Martin Stock Up 2.5 %

The firm has a market cap of $111.45 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 2.07 and a beta of 0.39. The business has a fifty day simple moving average of $450.03 and a 200 day simple moving average of $500.71. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

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

Insider Transactions at Lockheed Martin

In other news, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the transaction, the vice president now owns 2,278 shares in the company, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm's 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 in the company, valued at $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock worth $3,155,916 in the last quarter. Company insiders own 0.17% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Morse Asset Management Inc increased its position in Lockheed Martin by 1.0% in the 3rd quarter. Morse Asset Management Inc now owns 3,058 shares of the aerospace company's stock valued at $1,788,000 after acquiring an additional 31 shares during the period. XTX Topco Ltd purchased a new position in Lockheed Martin in the 3rd quarter valued at about $447,000. Tudor Financial Inc. acquired a new stake in Lockheed Martin during the third quarter worth approximately $557,000. Anchor Investment Management LLC grew its position in shares of Lockheed Martin by 8.4% in the third quarter. Anchor Investment Management LLC now owns 4,125 shares of the aerospace company's stock valued at $2,411,000 after purchasing an additional 320 shares during the period. Finally, Fulcrum Equity Management increased its stake in shares of Lockheed Martin by 4.7% during the 3rd quarter. Fulcrum Equity Management now owns 900 shares of the aerospace company's stock valued at $526,000 after acquiring an additional 40 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other 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.