Lockheed Martin (NYSE:LMT) Stock Price Breaks Below 200 Day Moving Average – Here’s What Happened

Lockheed Martin Corporation (NYSE:LMT) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $569.65 and traded as low as $561.85. Lockheed Martin shares last traded at $566.4310, with a volume of 1,387,287 shares.

Key Headlines Impacting Lockheed Martin

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LMT shares. Weiss Ratings upgraded Lockheed Martin from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 9th. Bank of America restated a “neutral” rating and set a $620.00 price objective on shares of Lockheed Martin in a research report on Monday, October 26th. UBS Group boosted their target price on Lockheed Martin from $653.00 to $692.00 and gave the stock a “buy” rating in a research note on Friday, October 23rd. Sanford C. Bernstein lowered their target price on Lockheed Martin from $629.00 to $564.00 and set a “market perform” rating for the company in a research note on Wednesday, October 14th. Finally, Vertical Research raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $600.00 target price for the company in a report on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $647.00.

Lockheed Martin Stock Performance

The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.10 and a current ratio of 1.26. The company has a market capitalization of $130.85 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 1.20 and a beta of 0.07. The stock’s 50 day moving average price is $548.25 and its 200 day moving average price is $569.65.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Thursday, October 22nd. The aerospace company reported $7.97 EPS for the quarter, topping the consensus estimate of $7.52 by $0.45. The company had revenue of $20.71 billion during the quarter, compared to the consensus estimate of $20.48 billion. Lockheed Martin had a net margin of 8.23% and a return on equity of 83.41%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the firm posted $6.95 EPS. As a group, equities analysts expect that Lockheed Martin Corporation will post 30.66 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 1st will be given a dividend of $3.60 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.45. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $14.40 dividend on an annualized basis and a dividend yield of 2.5%. Lockheed Martin’s payout ratio is currently 51.15%.

Institutional Trading of Lockheed Martin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mawer Investment Management Ltd. boosted its holdings in Lockheed Martin by 40.8% in the third quarter. Mawer Investment Management Ltd. now owns 20,021 shares of the aerospace company’s stock worth $10,196,000 after acquiring an additional 5,804 shares in the last quarter. MSH Capital Advisors LLC grew its stake in Lockheed Martin by 1.3% in the third 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. bought a new stake in shares of Lockheed Martin during the third quarter valued at approximately $678,000. McElhenny Sheffield Capital Management LLC increased its holdings in shares of Lockheed Martin by 4.2% during the third quarter. McElhenny Sheffield Capital Management LLC now owns 690 shares of the aerospace company’s stock valued at $352,000 after acquiring an additional 28 shares in the last quarter. Finally, Patrick Mauro Investment Advisor INC. raised its position in shares of 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 purchasing an additional 153 shares during the period. 74.19% of the stock is owned by institutional investors.

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.