Lockheed Martin (NYSE:LMT) Shares Gap Down - Here's What Happened
Lockheed Martin (NYSE:LMT) shares gapped down from $477.08 to $461.64 before trading at $457.22. Recent analyst reports have downgraded the stock, with Melius Research lowering it to 'hold' and Barclays reducing the price target from $565 to $515. The average rating is 'Hold' with a target of $539.93. The company reported $7.67 EPS, beating estimates, and announced a quarterly dividend of $3.30. Insider selling has occurred, with significant shares sold recently. Institutional investors have also adjusted their positions in the stock.
Lockheed Martin Co. (NYSE:LMT - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $477.08, but opened at $461.64. Lockheed Martin shares last traded at $457.22, with a volume of 613,058 shares traded.
Get Lockheed Martin alerts:
Analyst Upgrades and Downgrades
- Boeing Stock Upgraded After Beating Lockheed for Jet Deal
LMT has been the subject of several recent research reports. Melius Research lowered Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Barclays lowered their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating for the company in a research report on Monday, January 6th. Royal Bank of Canada lowered shares of Lockheed Martin from an "outperform" rating to a "sector perform" rating and reduced their target price for the company from $550.00 to $480.00 in a research note on Thursday, March 27th. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a "buy" rating to a "hold" rating and dropped their price target for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company reduced their price objective on Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Lockheed Martin currently has an average rating of "Hold" and a consensus price target of $539.93.
Get Our Latest Report on LMT
Lockheed Martin Stock Down 2.2 %
- Palantir Setting Up to Be a Big Winner With New Defense Spending
The firm has a market cap of $109.43 billion, a PE ratio of 20.97, a P/E/G ratio of 2.07 and a beta of 0.39. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The business has a fifty day moving average price of $451.64 and a two-hundred day moving average price of $499.06.
Lockheed Martin (NYSE:LMT - Get Free Report) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. On average, analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.
Lockheed Martin Dividend Announcement
- 3 Defense Stocks Set to Benefit From Increased Military Spending
The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Monday, March 3rd were paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date was Monday, March 3rd. Lockheed Martin's dividend payout ratio (DPR) is currently 59.30%.
Insider Buying and Selling
In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares of the company's stock, valued at $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the transaction, the insider now directly owns 2,000 shares in the company, valued at $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,133 shares of company stock worth $3,155,916. Corporate insiders own 0.17% of the company's stock.
Institutional Investors Weigh In On Lockheed Martin
Several hedge funds and other institutional investors have recently made changes to their positions in LMT. Charles Schwab Investment Management Inc. boosted its position in shares of Lockheed Martin by 17.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company's stock valued at $3,630,492,000 after acquiring an additional 1,132,461 shares during the period. Geode Capital Management LLC grew its position in Lockheed Martin by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company's stock worth $2,374,557,000 after purchasing an additional 59,597 shares during the last quarter. Northern Trust Corp raised its position in shares of Lockheed Martin by 6.3% during the fourth quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company's stock valued at $1,098,667,000 after buying an additional 134,662 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Lockheed Martin by 17.5% in the fourth quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company's stock valued at $1,035,989,000 after buying an additional 318,007 shares during the period. Finally, GAMMA Investing LLC increased its stake in Lockheed Martin by 41,104.9% during the first quarter. GAMMA Investing LLC now owns 1,991,433 shares of the aerospace company's stock valued at $889,593,000 after acquiring an additional 1,986,600 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.
Lockheed Martin Company Profile
(Get Free Report)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.
Further Reading
- Five stocks we like better than Lockheed Martin
- 2 Fintech Stocks to Buy Now and 1 to Avoid
- Tariff Exemptions Set the Stage for a Taiwan Semiconductor Rally
- The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number
- Mitigating Tariffs: 3 Stocks to Gain From a Weaker U.S. Dollar
- What is diluted earnings per share (Diluted EPS)?
- Broadcom’s Apple Relationship: AI Opportunity Meets Tariff Risk
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Lockheed Martin Right Now?
Before you consider Lockheed Martin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lockheed Martin wasn't on the list.
While Lockheed Martin currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
