Lockheed Martin (NYSE:LMT) Trading Down 0.1%

Lockheed Martin Co. (NYSE:LMT - Get Free Report)'s stock price was down 0.1% during mid-day trading on Tuesday . The stock traded as low as $573.61 and last traded at $576.18. Approximately 139,757 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 1,062,778 shares. The stock had previously closed at $576.57.

Analysts Set New Price Targets

A number of equities analysts recently commented on LMT shares. Barclays lifted their price target on Lockheed Martin from $480.00 to $505.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 30th. Morgan Stanley increased their price target on Lockheed Martin from $503.00 to $599.00 and gave the company an "equal weight" rating in a research note on Friday, August 9th. JPMorgan Chase & Co. raised their price target on Lockheed Martin from $518.00 to $560.00 and gave the company an "overweight" rating in a report on Thursday, July 25th. Royal Bank of Canada upgraded shares of Lockheed Martin from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $500.00 to $600.00 in a report on Monday, August 5th. Finally, Bank of America reiterated a "buy" rating and issued a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $553.43.

Lockheed Martin Trading Down 0.8 %

The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The stock has a market capitalization of $136.39 billion, a P/E ratio of 20.94, a P/E/G ratio of 4.55 and a beta of 0.47. The business has a 50-day moving average price of $528.67 and a two-hundred day moving average price of $481.35.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating the consensus estimate of $6.45 by $0.66. The firm had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $6.73 EPS. On average, analysts expect that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be paid a $3.15 dividend. This represents a $12.60 annualized dividend and a yield of 2.20%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin's dividend payout ratio (DPR) is presently 46.10%.

Insider Transactions at Lockheed Martin

In related news, insider Timothy S. Cahill sold 3,975 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the transaction, the insider now owns 8,877 shares of the company's stock, valued at approximately $4,574,850.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.17% of the company's stock.

Hedge Funds Weigh In On Lockheed Martin

Several large investors have recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new position in shares of Lockheed Martin in the second quarter valued at approximately $24,001,000. Strategic Investment Solutions Inc. IL acquired a new position in Lockheed Martin in the 2nd quarter valued at approximately $201,000. New Century Financial Group LLC raised its stake in shares of Lockheed Martin by 179.6% during the second quarter. New Century Financial Group LLC now owns 1,258 shares of the aerospace company's stock valued at $588,000 after acquiring an additional 808 shares during the last quarter. 3Chopt Investment Partners LLC acquired a new position in shares of Lockheed Martin during the second quarter worth $1,097,000. Finally, Truist Financial Corp grew its stake in shares of Lockheed Martin by 0.5% in the second quarter. Truist Financial Corp now owns 266,352 shares of the aerospace company's stock worth $124,413,000 after purchasing an additional 1,315 shares during the last quarter. 74.19% of the stock is currently owned by 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.