Lockheed Martin (NYSE:LMT) Trading Down 7.2% - What's Next?

Lockheed Martin Co. (NYSE:LMT - Get Free Report) was down 7.2% during mid-day trading on Tuesday . The stock traded as low as $459.09 and last traded at $467.44. Approximately 1,586,910 shares were traded during mid-day trading, an increase of 31% from the average daily volume of 1,209,312 shares. The stock had previously closed at $503.69.

Analysts Set New Price Targets

Several analysts recently issued reports on LMT shares. Truist Financial started coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a "buy" rating and a $579.00 target price on the stock. Wells Fargo & Company cut their target price on Lockheed Martin from $543.00 to $500.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. cut their target price on Lockheed Martin from $546.00 to $540.00 and set an "overweight" rating on the stock in a research note on Thursday, January 16th. Susquehanna cut their price objective on Lockheed Martin from $695.00 to $590.00 and set a "positive" rating on the stock in a research report on Wednesday, January 8th. Finally, Barclays cut their price objective on Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating on the stock in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $577.73.

Lockheed Martin Stock Down 9.1 %

The company's fifty day moving average price is $498.68 and its 200-day moving average price is $537.59. The stock has a market capitalization of $108.54 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. Analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be issued a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.88%. Lockheed Martin's payout ratio is currently 47.79%.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds have recently added to or reduced their stakes in the company. OMC Financial Services LTD raised its holdings in Lockheed Martin by 6.4% in the 4th quarter. OMC Financial Services LTD now owns 6,445 shares of the aerospace company's stock worth $3,132,000 after acquiring an additional 385 shares during the last quarter. Kestra Private Wealth Services LLC raised its holdings in Lockheed Martin by 9.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 38,855 shares of the aerospace company's stock worth $18,881,000 after acquiring an additional 3,442 shares during the last quarter. Moser Wealth Advisors LLC raised its holdings in Lockheed Martin by 5.8% in the 4th quarter. Moser Wealth Advisors LLC now owns 3,305 shares of the aerospace company's stock worth $1,606,000 after acquiring an additional 182 shares during the last quarter. Essex LLC raised its holdings in Lockheed Martin by 11.7% in the 4th quarter. Essex LLC now owns 479 shares of the aerospace company's stock worth $233,000 after acquiring an additional 50 shares during the last quarter. Finally, Stephens Inc. AR raised its holdings in Lockheed Martin by 1.5% in the 4th quarter. Stephens Inc. AR now owns 32,387 shares of the aerospace company's stock worth $15,738,000 after acquiring an additional 476 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

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.

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