Lockheed Martin (NYSE:LMT) Shares Down 0.1% - Here's Why

Lockheed Martin Co. (NYSE:LMT - Get Free Report) was down 0.1% during trading on Tuesday . The stock traded as low as $488.11 and last traded at $491.38. Approximately 303,259 shares changed hands during trading, a decline of 72% from the average daily volume of 1,082,166 shares. The stock had previously closed at $491.65.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LMT. Wells Fargo & Company reduced their price objective on shares of Lockheed Martin from $602.00 to $543.00 and set an "equal weight" rating on the stock in a report on Wednesday, December 11th. Robert W. Baird lifted their price target on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Citigroup increased their price objective on Lockheed Martin from $570.00 to $700.00 and gave the company a "buy" rating in a report on Thursday, October 10th. TD Cowen raised their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Finally, Melius Research raised Lockheed Martin to a "strong-buy" rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $612.29.

Lockheed Martin Stock Performance

The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The firm has a market cap of $116.26 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 4.13 and a beta of 0.46. The stock has a fifty day moving average price of $548.15 and a 200-day moving average price of $533.36.

Lockheed Martin (NYSE:LMT - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business's quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.77 earnings per share. On average, analysts expect that Lockheed Martin Co. will post 26.88 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin's previous quarterly dividend of $3.15. Lockheed Martin's dividend payout ratio is currently 47.79%.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors and hedge funds have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. purchased a new stake in shares of Lockheed Martin during the 3rd quarter worth approximately $26,000. Burkett Financial Services LLC acquired a new stake in Lockheed Martin in the third quarter valued at $32,000. Mattson Financial Services LLC purchased a new position in shares of Lockheed Martin in the second quarter valued at $27,000. Sachetta LLC boosted its position in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company's stock worth $28,000 after buying an additional 20 shares in the last quarter. Finally, Stephens Consulting LLC lifted its holdings in shares of Lockheed Martin by 48.9% in the second quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company's stock valued at $31,000 after purchasing an additional 22 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

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.