Lockheed Martin (NYSE:LMT) Stock Price Down 0.4% - Here's What Happened

Shares of Lockheed Martin Co. (NYSE:LMT - Get Free Report) traded down 0.4% during mid-day trading on Monday . The company traded as low as $490.90 and last traded at $492.84. 196,152 shares changed hands during trading, a decline of 82% from the average session volume of 1,080,053 shares. The stock had previously closed at $494.65.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LMT shares. Barclays upped their price objective on Lockheed Martin from $505.00 to $565.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 29th. Susquehanna decreased their price objective on shares of Lockheed Martin from $705.00 to $695.00 and set a "positive" rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. Citigroup boosted their price target on Lockheed Martin from $570.00 to $700.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Finally, TD Cowen upped their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of "Moderate Buy" and a consensus target price of $612.29.

Lockheed Martin Trading Down 0.6 %

The company's 50-day simple moving average is $550.51 and its 200 day simple moving average is $533.22. 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 capitalization of $116.52 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 4.13 and a beta of 0.46.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced 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 company had revenue of $17.10 billion during 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%. Lockheed Martin's revenue was up 1.3% compared to the same quarter last year. During the same period last year, the firm earned $6.77 earnings per share. As a group, sell-side analysts expect that Lockheed Martin Co. will post 26.88 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be paid a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin's previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.69%. Lockheed Martin's dividend payout ratio (DPR) is 47.79%.

Institutional Investors Weigh In On Lockheed Martin

A number of large investors have recently modified their holdings of LMT. Bank of Montreal Can grew its position in Lockheed Martin by 2.1% during the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company's stock worth $382,498,000 after purchasing an additional 13,253 shares during the last quarter. Hilltop Holdings Inc. grew its holdings in shares of Lockheed Martin by 79.9% during the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company's stock valued at $7,054,000 after buying an additional 5,361 shares during the last quarter. Old West Investment Management LLC grew its holdings in shares of Lockheed Martin by 6.6% during the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company's stock valued at $15,569,000 after buying an additional 1,643 shares during the last quarter. Empower Advisory Group LLC increased its position in shares of Lockheed Martin by 9.1% in the 3rd quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company's stock valued at $12,870,000 after acquiring an additional 1,843 shares during the period. Finally, World Investment Advisors LLC raised its stake in Lockheed Martin by 55.1% in the 3rd quarter. World Investment Advisors LLC now owns 6,468 shares of the aerospace company's stock worth $3,781,000 after acquiring an additional 2,297 shares during the last quarter. Hedge funds and other 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.