Lockheed Martin (NYSE:LMT) Shares Gap Down – Here’s Why

Lockheed Martin Co. (NYSE:LMT)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $503.69, but opened at $473.70. Lockheed Martin shares last traded at $463.21, with a volume of 498,951 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. UBS Group dropped their price objective on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 3rd. Morgan Stanley decreased their target price on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a report on Wednesday. Wells Fargo & Company cut their price target on shares of Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. Finally, Barclays decreased their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $556.13.

Lockheed Martin Price Performance

The firm has a 50-day moving average price of $497.18 and a 200 day moving average price of $537.55. The stock has a market capitalization of $107.66 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. On average, analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.91%. Lockheed Martin’s dividend payout ratio (DPR) is currently 47.79%.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of Lockheed Martin by 1.8% in the third quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock worth $2,816,898,000 after purchasing an additional 83,997 shares during the last quarter. FMR LLC raised its position in Lockheed Martin by 6.6% during the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after purchasing an additional 209,591 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after buying an additional 240,306 shares during the period. International Assets Investment Management LLC grew its position in shares of Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after buying an additional 1,556,609 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Lockheed Martin by 2.1% during the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after acquiring an additional 13,253 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Company Profile

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.