Lockheed Martin Co. (NYSE:LMT - Get Free Report) shares shot up 0.6% on Tuesday . The stock traded as high as $450.20 and last traded at $449.46. 232,097 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 1,641,420 shares. The stock had previously closed at $446.71.
Wall Street Analyst Weigh In
LMT has been the topic of several research analyst reports. Truist Financial started coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a "buy" rating and a $579.00 price target on the stock. Morgan Stanley decreased their target price on Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 29th. Susquehanna dropped their price target on Lockheed Martin from $590.00 to $550.00 and set a "positive" rating on the stock in a research report on Wednesday, January 29th. Wells Fargo & Company restated an "equal weight" rating on shares of Lockheed Martin in a research note on Monday, March 10th. Finally, Barclays lowered their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating for the company in a research note on Monday, January 6th. 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, Lockheed Martin currently has a consensus rating of "Hold" and an average target price of $539.53.
Check Out Our Latest Analysis on LMT
Lockheed Martin Stock Up 0.9 %
The business has a fifty day moving average price of $453.52 and a two-hundred day moving average price of $507.80. The company has a market cap of $107.15 billion, a price-to-earnings ratio of 20.59, a P/E/G ratio of 2.07 and a beta of 0.39. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.
Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. On average, equities analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current year.
Lockheed Martin Dividend Announcement
The firm also recently announced 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 2.89%. The ex-dividend date was Monday, March 3rd. Lockheed Martin's payout ratio is 59.30%.
Insiders Place Their Bets
In other news, VP Harry Edward Paul III sold 707 shares of the firm's 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 sale, the vice president now directly owns 2,278 shares of the company's stock, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the transaction, the insider now directly owns 2,000 shares of the company's stock, valued at $884,840. This represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock valued at $3,155,916 over the last 90 days. 0.17% of the stock is currently owned by company insiders.
Institutional Trading of Lockheed Martin
Hedge funds have recently modified their holdings of the company. Global Wealth Strategies & Associates lifted its position in Lockheed Martin by 19.2% in the first quarter. Global Wealth Strategies & Associates now owns 621 shares of the aerospace company's stock worth $277,000 after purchasing an additional 100 shares during the period. M1 Capital Management LLC bought a new stake in Lockheed Martin in the fourth quarter valued at about $235,000. DSG Capital Advisors LLC bought a new stake in shares of Lockheed Martin in the 4th quarter valued at approximately $235,000. Chancellor Financial Group WB LP acquired a new position in Lockheed Martin during the fourth quarter worth $209,000. Finally, 111 Capital acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at $1,155,000. Institutional investors own 74.19% of the company's stock.
About Lockheed Martin
(
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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