Lockheed Martin (NYSE:LMT) Trading Down 0.7% Following Analyst Downgrade

Lockheed Martin Co. (NYSE:LMT) was down 0.7% on Wednesday after Wells Fargo & Company lowered their price target on the stock from $497.00 to $468.00. Wells Fargo & Company currently has an equal weight rating on the stock. Lockheed Martin traded as low as $441.75 and last traded at $445.54. Approximately 277,217 shares traded hands during trading, a decline of 82% from the average daily volume of 1,548,931 shares. The stock had previously closed at $448.46.

LMT has been the subject of several other reports. Royal Bank of Canada lowered their target price on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Citigroup lowered their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. StockNews.com downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. lowered their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Finally, Truist Financial initiated coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $553.67.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds have recently made changes to their positions in LMT. Itau Unibanco Holding S.A. acquired a new stake in Lockheed Martin in the 3rd quarter valued at $26,000. Millstone Evans Group LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter worth about $32,000. Capital Performance Advisors LLP acquired a new stake in shares of Lockheed Martin in the third quarter valued at about $40,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Lockheed Martin during the 4th quarter valued at about $34,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.6 %

The stock has a market capitalization of $104.89 billion, a price-to-earnings ratio of 20.01, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. The firm has a 50-day moving average of $468.06 and a 200 day moving average of $527.23. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. On average, sell-side analysts anticipate that Lockheed Martin Co. will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is 59.30%.

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.