Lockheed Martin (NYSE:LMT) Trading Down 0.5% - Here's Why

Shares of Lockheed Martin Co. (NYSE:LMT - Get Free Report) were down 0.5% on Wednesday . The stock traded as low as $485.32 and last traded at $488.14. 218,706 shares were traded during trading, a decline of 80% from the average daily volume of 1,082,870 shares. The stock had previously closed at $490.61.

Analysts Set New Price Targets

LMT has been the topic of several recent research reports. Barclays upped their price objective on Lockheed Martin from $505.00 to $565.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price target on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Susquehanna lowered their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a "positive" rating on the stock in a research note on Wednesday, October 23rd. StockNews.com upgraded Lockheed Martin from a "buy" rating to a "strong-buy" rating in a research note on Tuesday. Finally, Bank of America reissued a "buy" rating and issued a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin has a consensus rating of "Moderate Buy" and an average price target of $612.29.

Lockheed Martin Price Performance

The stock's 50 day simple moving average is $548.15 and its two-hundred day simple moving average is $533.36. The firm has a market capitalization of $114.47 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 4.13 and a beta of 0.46. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly 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. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm had revenue of $17.10 billion for the quarter, compared to analysts' expectations of $17.38 billion. During the same quarter in the previous year, the company posted $6.77 EPS. The company's revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts forecast that Lockheed Martin Co. will post 26.88 EPS for the current 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 given a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.73%. This is a positive change from Lockheed Martin's previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin's dividend payout ratio is presently 47.79%.

Institutional Trading of Lockheed Martin

Several institutional investors and hedge funds have recently bought and sold shares of LMT. Bank of Montreal Can raised its holdings in shares of Lockheed Martin by 2.1% in the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company's stock valued at $382,498,000 after buying an additional 13,253 shares during the period. Hilltop Holdings Inc. lifted its position 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 worth $7,054,000 after purchasing an additional 5,361 shares in the last quarter. Old West Investment Management LLC boosted its stake in shares of Lockheed Martin by 6.6% in 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 purchasing an additional 1,643 shares during the period. Empower Advisory Group LLC grew its holdings in shares of Lockheed Martin by 9.1% in the third quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company's stock valued at $12,870,000 after purchasing an additional 1,843 shares in the last quarter. Finally, World Investment Advisors LLC increased its stake in Lockheed Martin by 55.1% during the 3rd quarter. World Investment Advisors LLC now owns 6,468 shares of the aerospace company's stock worth $3,781,000 after buying an additional 2,297 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

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.