Lockheed Martin Corporation (NYSE:LMT – Get Free Report)’s stock price traded down 3.1% during trading on Thursday. The company traded as low as $575.71 and last traded at $576.7110. Approximately 1,764,089 shares were traded during mid-day trading, an increase of 20% from the average session volume of 1,473,162 shares. The stock had previously closed at $595.04.
Key Lockheed Martin News
Here are the key news stories impacting Lockheed Martin this week:
- Positive Sentiment: Zacks says Lockheed Martin has gained 12% over six months, supported by a record backlog, global defense demand, major contracts and strategic acquisitions. It also describes the shares as trading at a discount to the industry, which could appeal to value-focused investors. Article: LMT Trades at a Discount to the Industry
- Positive Sentiment: Industry earnings point to ongoing demand for conventional weapons as well as drones and advanced defense systems, a supportive backdrop for defense contractors, although the article does not provide Lockheed-specific results. Article: Defense earnings reveal a more complicated rearmament boom
- Neutral Sentiment: Lockheed Martin is attracting increased attention from Zacks users, but the coverage does not identify a specific new company development driving that interest. Article: What to Know Beyond Why Lockheed Martin Is a Trending Stock
- Negative Sentiment: Defense shares faced political and budget uncertainty after Democrats took control of Congress. Reports say a proposed $1.5 trillion defense budget request may be in jeopardy, raising questions about future spending and contributing to pressure on Lockheed Martin and other contractors. Article: Defense Stocks Sank as Democrats Took Congress
- Negative Sentiment: Lockheed Martin agreed to pay $29.5 million to settle federal claims that it discriminated against white workers. The payment is a cost and may bring reputational scrutiny, though it is not presented as a change to the company’s operating outlook. Article: Lockheed Martin paying $29.5M settlement
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada boosted their target price on shares of Lockheed Martin from $550.00 to $600.00 and gave the company a “sector perform” rating in a report on Friday, October 23rd. Bank of America reissued a “neutral” rating and issued a $620.00 target price on shares of Lockheed Martin in a research note on Monday, October 26th. JPMorgan Chase & Co. increased their price target on shares of Lockheed Martin from $620.00 to $665.00 and gave the company a “neutral” rating in a research report on Monday, October 26th. Wall Street Zen downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 17th. Finally, Rothschild & Co Redburn began coverage on Lockheed Martin in a research report on Tuesday, October 6th. They issued a “buy” rating and a $650.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $647.00.
Get Our Latest Research Report on LMT
Lockheed Martin Trading Down 1.7%
The stock has a market cap of $130.85 billion, a P/E ratio of 20.12, a P/E/G ratio of 1.36 and a beta of 0.07. The firm’s 50 day moving average price is $548.25 and its 200-day moving average price is $569.65. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.26 and a quick ratio of 1.10.
Lockheed Martin (NYSE:LMT – Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The aerospace company reported $7.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.52 by $0.45. Lockheed Martin had a return on equity of 83.41% and a net margin of 8.23%. The business had revenue of $20.71 billion during the quarter, compared to the consensus estimate of $20.48 billion. During the same period in the previous year, the company posted $6.95 EPS. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, equities research analysts forecast that Lockheed Martin Corporation will post 30.66 earnings per share for the current year.
Lockheed Martin Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 1st will be issued a dividend of $3.60 per share. This represents a $14.40 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, December 1st. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.45. Lockheed Martin’s dividend payout ratio (DPR) is 49.02%.
Institutional Trading of Lockheed Martin
Several large investors have recently bought and sold shares of LMT. Mawer Investment Management Ltd. grew its position in Lockheed Martin by 40.8% during the 3rd quarter. Mawer Investment Management Ltd. now owns 20,021 shares of the aerospace company’s stock worth $10,196,000 after purchasing an additional 5,804 shares during the period. MSH Capital Advisors LLC grew its stake in Lockheed Martin by 1.3% in the 3rd quarter. MSH Capital Advisors LLC now owns 1,583 shares of the aerospace company’s stock valued at $806,000 after acquiring an additional 20 shares during the period. Bernicke Wealth Management Ltd. purchased a new position in shares of Lockheed Martin in the third quarter valued at approximately $678,000. McElhenny Sheffield Capital Management LLC lifted its position in Lockheed Martin by 4.2% during the third quarter. McElhenny Sheffield Capital Management LLC now owns 690 shares of the aerospace company’s stock worth $352,000 after buying an additional 28 shares in the last quarter. Finally, Patrick Mauro Investment Advisor INC. boosted its stake in Lockheed Martin by 1.9% during the third quarter. Patrick Mauro Investment Advisor INC. now owns 8,233 shares of the aerospace company’s stock worth $4,193,000 after buying an additional 153 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.
About Lockheed Martin
Lockheed Martin Corporation is a global security and aerospace company headquartered in Bethesda, Maryland. Formed in 1995 through the merger of Lockheed Corporation and Martin Marietta, the company develops and produces advanced defense, aerospace, and technology systems for government and commercial customers.
Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. Products and services include military aircraft such as the F-35 Lightning II, C-130 Hercules, and F-16 Fighting Falcon; missile-defense and precision-strike systems; helicopters and naval systems; command, control, communications, and intelligence technologies; satellites; space exploration systems; and other classified space and defense programs.
Lockheed Martin serves the U.S.
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