Lockheed Martin (NYSE:LMT) Shares Down 1.6%

Lockheed Martin Co. (NYSE:LMT - Get Free Report) was down 1.6% during mid-day trading on Tuesday . The company traded as low as $563.60 and last traded at $563.83. Approximately 211,500 shares were traded during trading, a decline of 80% from the average daily volume of 1,053,214 shares. The stock had previously closed at $572.92.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Morgan Stanley boosted their price objective on Lockheed Martin from $503.00 to $599.00 and gave the stock an "equal weight" rating in a research note on Friday, August 9th. Royal Bank of Canada upgraded shares of Lockheed Martin from a "sector perform" rating to an "outperform" rating and boosted their price target for the stock from $500.00 to $600.00 in a research report on Monday, August 5th. TD Cowen upgraded shares of Lockheed Martin from a "hold" rating to a "buy" rating and raised their price objective for the company from $480.00 to $560.00 in a research report on Wednesday, July 24th. Bank of America reiterated a "buy" rating and issued a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Lockheed Martin from $518.00 to $560.00 and gave the stock an "overweight" rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $553.43.

Lockheed Martin Stock Performance

The stock has a market capitalization of $136.06 billion, a PE ratio of 20.75, a P/E/G ratio of 4.55 and a beta of 0.47. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The firm has a 50 day moving average of $539.25 and a 200-day moving average of $486.27.

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

Lockheed Martin Announces Dividend

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

Insider Buying and Selling

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the business's stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares in the company, valued at $4,574,850.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LMT. Franklin Resources Inc. raised its holdings in Lockheed Martin by 14.9% during the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company's stock valued at $1,173,641,000 after buying an additional 336,588 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Lockheed Martin by 1.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company's stock valued at $902,714,000 after acquiring an additional 31,545 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Lockheed Martin by 14.9% in the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company's stock valued at $646,828,000 after acquiring an additional 180,074 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Lockheed Martin by 11.3% in 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. boosted its position in Lockheed Martin by 56,626.7% during the second 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 period. Institutional investors and hedge funds own 74.19% of the company's stock.

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.