Lockheed Martin (NYSE:LMT) Trading Down 0.8% - Here's What Happened

Lockheed Martin Co. (NYSE:LMT - Get Free Report) shares were down 0.8% during mid-day trading on Thursday . The stock traded as low as $477.31 and last traded at $479.24. Approximately 333,482 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 1,084,587 shares. The stock had previously closed at $482.94.

Analyst Upgrades and Downgrades

LMT has been the topic of several recent research reports. TD Cowen increased their price objective on Lockheed Martin from $560.00 to $610.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Robert W. Baird raised their price target on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Barclays boosted their price objective on shares of Lockheed Martin from $505.00 to $565.00 and gave the company an "equal weight" rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Lockheed Martin from $600.00 to $620.00 and gave the stock a "buy" rating in a report on Thursday, October 3rd. Finally, Melius Research upgraded Lockheed Martin to a "strong-buy" rating in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $612.29.

Lockheed Martin Stock Down 0.7 %

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 $113.70 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 4.13 and a beta of 0.46. The firm has a 50 day moving average of $543.35 and a two-hundred day moving average of $532.64.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts' consensus estimates of $6.50 by $0.34. The company 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 firm's quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company posted $6.77 EPS. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 26.88 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Lockheed Martin's previous quarterly dividend of $3.15. Lockheed Martin's dividend payout ratio is presently 47.79%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. CVA Family Office LLC raised its stake in shares of Lockheed Martin by 1.1% during the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company's stock valued at $905,000 after acquiring an additional 17 shares during the last quarter. AllGen Financial Advisors Inc. increased its holdings in Lockheed Martin by 4.0% in the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company's stock valued at $274,000 after purchasing an additional 18 shares during the period. Salomon & Ludwin LLC raised its position in Lockheed Martin by 20.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company's stock worth $62,000 after purchasing an additional 18 shares during the last quarter. Sunburst Financial Group LLC lifted its holdings in Lockheed Martin by 3.3% during the 3rd quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company's stock worth $331,000 after buying an additional 18 shares during the period. Finally, Quad Cities Investment Group LLC grew its position in shares of Lockheed Martin by 1.2% in the 3rd quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company's stock valued at $919,000 after buying an additional 19 shares during the last quarter. Institutional investors own 74.19% of the company's stock.

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.