Lockheed Martin (NYSE:LMT) Shares Down 1.4% – Time to Sell?

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

Lockheed Martin News Summary

Here’s some of the latest news about LMT:

• 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 Analysts Forecast Growth

LMT has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on Lockheed Martin from $600.00 to $700.00 and gave the stock an “equal weight” rating in a research report on Monday, November 2nd. UBS Group boosted their price objective on shares of Lockheed Martin from $653.00 to $692.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Wall Street Zen downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 17th. Rothschild & Co Redburn started coverage on shares of Lockheed Martin in a report on Tuesday, October 6th. They issued a “buy” rating and a $650.00 target price on the stock. Finally, Guggenheim assumed coverage on shares of Lockheed Martin in a research report on Wednesday, November 4th. They set a “buy” rating and a $735.00 price target on the stock. One research 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $647.00.

Lockheed Martin Price Performance

The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 2.04. The firm 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 company has a fifty day moving average price of $552.34 and a two-hundred day moving average price of $569.92.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Thursday, October 22nd. The aerospace company reported $7.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.52 by $0.45. The business had revenue of $20.71 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.95 EPS. Equities analysts anticipate 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. Stockholders of record on Tuesday, December 1st will be given a dividend of $3.60 per share. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.45. This represents a $14.40 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, December 1st. Lockheed Martin’s payout ratio is currently 49.02%.

Institutional Investors Weigh In On Lockheed Martin

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Trek Financial LLC lifted its holdings in Lockheed Martin by 1.2% in the third quarter. Trek Financial LLC now owns 1,405 shares of the aerospace company’s stock valued at $715,000 after buying an additional 16 shares during the period. Cahaba Wealth Management Inc. grew its holdings in Lockheed Martin by 3.2% during the 3rd quarter. Cahaba Wealth Management Inc. now owns 542 shares of the aerospace company’s stock worth $276,000 after acquiring an additional 17 shares during the period. Third View Private Wealth LLC grew its holdings in Lockheed Martin by 2.0% during the 3rd quarter. Third View Private Wealth LLC now owns 886 shares of the aerospace company’s stock worth $451,000 after acquiring an additional 17 shares during the period. Henderson Brothers Financial Partners LLC grew its holdings in Lockheed Martin by 2.7% during the 3rd quarter. Henderson Brothers Financial Partners LLC now owns 641 shares of the aerospace company’s stock worth $327,000 after acquiring an additional 17 shares during the period. Finally, Beacon Capital Management LLC raised its position in shares of Lockheed Martin by 4.5% in the 2nd quarter. Beacon Capital Management LLC now owns 442 shares of the aerospace company’s stock worth $225,000 after acquiring an additional 19 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Company Profile

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.