Lockheed Martin (NYSE:LMT) Shares Down 0.1%

Lockheed Martin Co. (NYSE:LMT - Get Free Report)'s stock price was down 0.1% during mid-day trading on Thursday . The stock traded as low as $563.90 and last traded at $566.57. Approximately 129,523 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 1,059,524 shares. The stock had previously closed at $566.96.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on LMT shares. Melius Research raised shares of Lockheed Martin to a "strong-buy" rating in a research report on Tuesday, September 3rd. Wells Fargo & Company raised their price target on Lockheed Martin from $483.00 to $525.00 and gave the company an "equal weight" rating in a report on Wednesday, July 24th. Bank of America reissued a "buy" rating and issued a $635.00 price objective on shares of Lockheed Martin in a research note on Friday, August 30th. TD Cowen upgraded Lockheed Martin from a "hold" rating to a "buy" rating and raised their target price for the company from $480.00 to $560.00 in a research note on Wednesday, July 24th. Finally, Susquehanna increased their price objective on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a "positive" rating in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $553.43.

Lockheed Martin Trading Up 0.2 %

The business's 50-day moving average price is $532.73 and its two-hundred day moving average price is $482.55. The company has a market capitalization of $136.35 billion, a P/E ratio of 20.79, a PEG ratio of 4.55 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07.

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $18.12 billion for the quarter, compared to analysts' expectations of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm's revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.73 EPS. As a group, analysts forecast that Lockheed Martin Co. will post 26.65 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given a $3.15 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $12.60 annualized dividend and a yield of 2.22%. Lockheed Martin's dividend payout ratio is currently 46.10%.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction 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 sale, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.17% of the company's stock.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its stake in shares of Lockheed Martin by 14.9% during the 4th quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company's stock worth $1,173,641,000 after purchasing an additional 336,588 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Lockheed Martin by 1.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company's stock worth $902,714,000 after purchasing an additional 31,545 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Lockheed Martin by 14.9% during the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company's stock worth $646,828,000 after purchasing an additional 180,074 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Lockheed Martin by 11.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,169,223 shares of the aerospace company's stock worth $546,144,000 after purchasing an additional 119,052 shares during the last quarter. Finally, Wulff Hansen & CO. increased its stake in shares of Lockheed Martin by 56,626.7% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company's stock worth $476,947,000 after purchasing an additional 1,019,281 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

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.