Lockheed Martin (NYSE:LMT) Shares Down 1.7% – Here’s What Happened

Lockheed Martin Corporation (NYSE:LMT)’s share price was down 1.7% during trading on Friday. The stock traded as low as $561.85 and last traded at $566.4310. 1,386,206 shares changed hands during trading, a decline of 6% from the average session volume of 1,473,343 shares. The stock had previously closed at $576.16.

More 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 research firms have commented on LMT. Jefferies Financial Group reissued a “hold” rating and set a $615.00 target price on shares of Lockheed Martin in a research report on Sunday, October 25th. Barclays upped their price target on shares of Lockheed Martin from $554.00 to $560.00 and gave the stock an “equal weight” rating in a research 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 objective on the stock in a research note on Wednesday, October 14th. Morgan Stanley lifted their price objective on shares of Lockheed Martin from $653.00 to $690.00 and gave the company an “equal weight” rating in a report on Friday, July 24th. Finally, TD Cowen cut their price objective on shares of Lockheed Martin from $600.00 to $570.00 and set a “hold” rating on the stock in a report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus target price of $647.00.

Lockheed Martin Stock Performance

The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 2.04. The firm has a market capitalization of $130.85 billion, a price-to-earnings ratio of 20.12, a P/E/G ratio of 1.26 and a beta of 0.07. The business has a 50-day moving average price of $548.24 and a 200-day moving average price of $569.69.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Thursday, October 22nd. The aerospace company reported $7.97 earnings per share for the quarter, topping the consensus estimate of $7.52 by $0.45. The firm had revenue of $20.71 billion for the quarter, compared to the consensus estimate of $20.48 billion. Lockheed Martin had a return on equity of 83.41% and a net margin of 8.23%. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the business earned $6.95 EPS. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 1st will be issued a $3.60 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.45. This represents a $14.40 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, December 1st. Lockheed Martin’s dividend payout ratio is 49.02%.

Institutional Investors Weigh In On Lockheed Martin

A number of large investors have recently made changes to their positions in the stock. Burnham & Co LLC acquired a new position in shares of Lockheed Martin in the 2nd quarter valued at about $25,000. Field & Main Bank purchased a new position in shares of Lockheed Martin in the 2nd quarter valued at $26,000. Kelleher Financial Advisors purchased a new position in shares of Lockheed Martin in the 2nd quarter valued at $29,000. Highland Investment Advisors LLC acquired a new position in shares of Lockheed Martin during the 2nd quarter valued at $29,000. Finally, IAG Wealth Partners LLC lifted its holdings in shares of Lockheed Martin by 4,800.0% during the 1st quarter. IAG Wealth Partners LLC now owns 49 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 48 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other 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.