Lockheed Martin (NYSE:LMT) Trading Down 1.4% – Here’s What Happened

Lockheed Martin Corporation (NYSE:LMT)’s stock price dropped 1.4% during mid-day trading on Monday . The stock traded as low as $448.48 and last traded at $452.14. Approximately 1,628,370 shares traded hands during mid-day trading, an increase of 2% from the average daily volume of 1,590,595 shares. The stock had previously closed at $458.35.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on LMT shares. Truist Financial upped their price target on Lockheed Martin from $440.00 to $500.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lockheed Martin in a research note on Wednesday, October 8th. Robert W. Baird lifted their price target on shares of Lockheed Martin from $500.00 to $550.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. Bank of America dropped their price objective on shares of Lockheed Martin from $495.00 to $480.00 and set a “neutral” rating on the stock in a research note on Thursday, August 21st. Finally, JPMorgan Chase & Co. decreased their target price on shares of Lockheed Martin from $520.00 to $465.00 and set an “overweight” rating for the company in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Hold” and an average target price of $513.47.

Lockheed Martin Trading Down 1.4%

The stock has a market cap of $104.62 billion, a PE ratio of 25.25, a PEG ratio of 1.69 and a beta of 0.25. The company has a quick ratio of 0.97, a current ratio of 1.13 and a debt-to-equity ratio of 3.32. The stock’s fifty day moving average price is $483.98 and its 200 day moving average price is $467.58.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share for the quarter, topping analysts’ consensus estimates of $6.33 by $0.62. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. The company had revenue of $18.61 billion during the quarter, compared to analyst estimates of $18.45 billion. During the same period in the previous year, the business earned $6.84 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. Lockheed Martin has set its FY 2025 guidance at 22.150-22.350 EPS. On average, sell-side analysts forecast that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 1st will be given a dividend of $3.45 per share. This represents a $13.80 annualized dividend and a dividend yield of 3.1%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.30. The ex-dividend date of this dividend is Monday, December 1st. Lockheed Martin’s payout ratio is 77.05%.

Insider Buying and Selling

In other Lockheed Martin news, COO John Frank A. St sold 7,792 shares of the business’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $491.04, for a total value of $3,826,183.68. Following the completion of the transaction, the chief operating officer owned 1 shares of the company’s stock, valued at approximately $491.04. The trade was a 99.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.14% of the company’s stock.

Institutional Trading of Lockheed Martin

Large investors have recently made changes to their positions in the stock. Brighton Jones LLC boosted its stake in shares of Lockheed Martin by 5.0% in the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock worth $1,941,000 after buying an additional 191 shares during the last quarter. Stephens Inc. AR lifted its holdings in Lockheed Martin by 17.4% in the first quarter. Stephens Inc. AR now owns 38,016 shares of the aerospace company’s stock valued at $16,982,000 after acquiring an additional 5,629 shares during the period. TruNorth Capital Management LLC purchased a new position in Lockheed Martin in the first quarter worth about $31,000. Oxbow Advisors LLC bought a new stake in shares of Lockheed Martin during the 1st quarter valued at about $2,584,000. Finally, Hughes Financial Services LLC bought a new stake in shares of Lockheed Martin during the 1st quarter valued at about $150,000. 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.