Lockheed Martin (NYSE:LMT) Shares Up 0% on Better-Than-Expected Earnings

Lockheed Martin Co. (NYSE:LMT - Get Free Report)'s stock price rose 0% during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $471.39 and last traded at $462.26. Approximately 380,003 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 1,247,046 shares. The stock had previously closed at $462.08.

The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The firm had revenue of $17.96 billion for the quarter, compared to the consensus estimate of $17.83 billion.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were issued a dividend of $3.30 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.79%. Lockheed Martin's dividend payout ratio is presently 57.02%.

Wall Street Analysts Forecast Growth

LMT has been the topic of several recent analyst reports. Robert W. Baird raised Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 target price on the stock in a research report on Wednesday. Citigroup decreased their price objective on shares of 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 raised shares of Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 target price on the stock in a research report on Wednesday, April 16th. Royal Bank of Canada cut shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and decreased their price target for the stock from $550.00 to $480.00 in a report on Thursday, March 27th. Finally, Melius lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $544.79.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction on 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 completion of the transaction, the insider now owns 2,000 shares of the company's stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Harry Edward Paul III sold 707 shares of the stock in a transaction dated 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 directly 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. Over the last ninety days, insiders sold 7,133 shares of company stock worth $3,155,916. 0.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in LMT. Millstone Evans Group LLC acquired a new position in Lockheed Martin during the fourth quarter worth $32,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Lockheed Martin during the 4th quarter worth about $34,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin in the 4th quarter valued at about $35,000. Redwood Park Advisors LLC acquired a new stake in Lockheed Martin in the 4th quarter worth about $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new position in Lockheed Martin in the 4th quarter valued at $42,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

The firm's 50 day simple moving average is $454.80 and its 200-day simple moving average is $493.33. The company has a market cap of $111.05 billion, a price-to-earnings ratio of 21.24, 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 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.