Lockheed Martin (NYSE:LMT) Stock Falls 1.4% – Here’s Why

Lockheed Martin Corporation (NYSE:LMT) was down 1.4% during trading on Friday. The stock traded as low as $588.74 and last traded at $595.8930. 863,013 shares were traded during trading, a decline of 41% from the average session volume of 1,461,648 shares. The stock had previously closed at $604.09.

Key Lockheed Martin News

These are some of the LMT news items that stood out recently:

• Neutral Sentiment: Lockheed is among the companies involved in the Pentagon’s Golden Dome missile-shield program, and established interceptor backlogs could position incumbents to win work. However, the article does not identify how much revenue Lockheed will secure. Golden Dome’s $185 Billion Question: Who Actually Gets Paid?
• Neutral Sentiment: Recent Zacks pieces describe LMT as a value-stock candidate and compare it with Howmet Aerospace, but provide no new company-specific operating or earnings developments. Why Lockheed Martin (LMT) is a Top Value Stock for the Long-Term
• Negative Sentiment: Alphabet’s entry into Golden Dome adds another potential competitor, while the scale of the program and uncertainty over which companies will receive awards make the opportunity difficult to quantify for LMT. Golden Dome’s $185 Billion Question: Who Actually Gets Paid?

Wall Street Analyst Weigh In

LMT has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price target on shares of Lockheed Martin from $620.00 to $665.00 and gave the stock a “neutral” rating in a report on Monday, October 26th. Royal Bank Of Canada raised their price objective on Lockheed Martin from $550.00 to $600.00 and gave the company a “sector perform” rating in a research note on Friday, October 23rd. Citigroup upped their target price on Lockheed Martin from $691.00 to $706.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Vertical Research upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $600.00 price target for the company in a research report on Wednesday, October 14th. Finally, Wall Street Zen lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 17th. One 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $647.00.

Lockheed Martin Price Performance

The stock has a market cap of $137.66 billion, a P/E ratio of 21.17, a PEG ratio of 1.29 and a beta of 0.07. The firm’s fifty day moving average price is $552.34 and its 200-day moving average price is $569.92. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 2.04.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Thursday, October 22nd. The aerospace company reported $7.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.52 by $0.45. The company had revenue of $20.71 billion for the quarter, compared to analysts’ expectations of $20.48 billion. Lockheed Martin had a return on equity of 83.41% and a net margin of 8.23%. Lockheed Martin’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the firm earned $6.95 earnings per share. 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 announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 1st will be paid a dividend of $3.60 per share. This represents a $14.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, December 1st. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.45. Lockheed Martin’s payout ratio is presently 49.02%.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors have recently added to or reduced their stakes in the company. Burnham & Co LLC purchased a new position in shares of Lockheed Martin during the second quarter valued at approximately $25,000. Field & Main Bank purchased a new position in Lockheed Martin in the 2nd quarter worth about $26,000. Kelleher Financial Advisors bought a new position in Lockheed Martin during the second quarter valued at approximately $29,000. Highland Investment Advisors LLC bought a new position in shares of Lockheed Martin during the 2nd quarter valued at $29,000. Finally, Lynch Investment Planning LLC purchased a new position in shares of Lockheed Martin in the 3rd quarter worth $40,000. 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.