Lockheed Martin (NYSE:LMT) Price Target Cut to $508.00 by Analysts at UBS Group

Lockheed Martin (NYSE:LMT) had its price objective lowered by UBS Group from $527.00 to $508.00 in a research note released on Wednesday morning,Benzinga reports. UBS Group currently has a neutral rating on the aerospace company’s stock.

Several other analysts also recently commented on LMT. Barclays decreased their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Truist Financial started coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective on the stock. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 3rd. Susquehanna reduced their price target on shares of Lockheed Martin from $695.00 to $590.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Finally, Wells Fargo & Company reduced their price target on shares of Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $556.13.

Lockheed Martin Stock Down 0.7 %

LMT opened at $454.18 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. Lockheed Martin has a 1-year low of $413.92 and a 1-year high of $618.95. The company has a market capitalization of $107.66 billion, a PE ratio of 16.44, a PEG ratio of 4.05 and a beta of 0.48. The firm’s 50 day simple moving average is $497.18 and its two-hundred day simple moving average is $537.55.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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%. As a group, equities analysts forecast that Lockheed Martin 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. Investors of record on Monday, March 3rd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.91%. Lockheed Martin’s payout ratio is 47.79%.

Institutional Investors Weigh In On Lockheed Martin

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its holdings 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 valued at $911,433,000 after purchasing an additional 1,556,609 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Lockheed Martin by 1,239.6% in the 4th quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock valued at $266,410,000 after purchasing an additional 507,312 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of Lockheed Martin by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock valued at $263,561,000 after purchasing an additional 249,591 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of 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 valued at $1,797,437,000 after purchasing an additional 240,306 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Lockheed Martin by 6.6% in 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 in the last quarter. Institutional investors own 74.19% of the company’s stock.

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.