Lockheed Martin (NYSE:LMT) Shares Up 3.2% - Here's Why

Lockheed Martin Co. (NYSE:LMT - Get Free Report)'s stock price traded up 3.2% during trading on Tuesday . The company traded as high as $451.39 and last traded at $444.70. 559,909 shares changed hands during trading, a decline of 54% from the average session volume of 1,221,577 shares. The stock had previously closed at $430.82.

Analysts Set New Price Targets

LMT has been the subject of several analyst reports. Royal Bank of Canada downgraded shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from $550.00 to $480.00 in a research report on Thursday, March 27th. Melius Research cut Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Morgan Stanley lowered their price target on Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Finally, Citigroup lowered their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a "buy" rating on the stock in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $536.60.

Lockheed Martin Stock Performance

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

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping analysts' consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. As a group, sell-side analysts expect that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

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

Insider Activity

In related news, 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 completion of the sale, 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 ownership of the stock. The transaction 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 Lockheed Martin stock in a transaction that occurred 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 sale, the insider now directly owns 2,000 shares in the company, valued at $884,840. This trade represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock worth $3,155,916 in the last three months. Company insiders own 0.17% of the company's stock.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds and other institutional investors have recently modified their holdings of LMT. First City Capital Management Inc. increased its holdings in Lockheed Martin by 0.8% in the 1st quarter. First City Capital Management Inc. now owns 3,465 shares of the aerospace company's stock valued at $1,548,000 after acquiring an additional 28 shares during the last quarter. Piscataqua Savings Bank increased its holdings in shares of Lockheed Martin by 500.0% in the first quarter. Piscataqua Savings Bank now owns 540 shares of the aerospace company's stock worth $241,000 after purchasing an additional 450 shares during the last quarter. Gateway Investment Advisers LLC increased its holdings in shares of Lockheed Martin by 11.3% in the first quarter. Gateway Investment Advisers LLC now owns 3,805 shares of the aerospace company's stock worth $1,700,000 after purchasing an additional 386 shares during the last quarter. GGM Financials LLC purchased a new stake in shares of Lockheed Martin in the first quarter worth about $420,000. Finally, Seneca House Advisors boosted its stake in Lockheed Martin by 21.4% during the first quarter. Seneca House Advisors now owns 2,063 shares of the aerospace company's stock valued at $922,000 after buying an additional 363 shares during the last quarter. Institutional investors own 74.19% of the company's stock.

About Lockheed Martin

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.