Lockheed Martin (NYSE:LMT) Lowered to Neutral Rating by Bank of America

Bank of America downgraded shares of Lockheed Martin (NYSE:LMT) from a buy rating to a neutral rating in a research note issued to investors on Monday morning, Marketbeat reports. They currently have $485.00 price target on the aerospace company’s stock, down from their prior price target of $685.00.

LMT has been the subject of a number of other research reports. StockNews.com downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Susquehanna cut their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. Truist Financial began coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective for the company. Barclays dropped their target price on 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. Finally, UBS Group reduced their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $544.20.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $444.88 on Monday. The stock’s fifty day simple moving average is $458.36 and its 200-day simple moving average is $512.16. The company has a market capitalization of $104.72 billion, a price-to-earnings ratio of 19.99, a P/E/G ratio of 2.07 and a beta of 0.43. 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 has a 1-year low of $419.70 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT) 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, sell-side analysts predict that Lockheed Martin will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.97%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Insider Buying and Selling at Lockheed Martin

In other news, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the transaction, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the sale, the insider now owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock worth $3,155,916 over the last ninety days. Company insiders own 0.17% of the company’s stock.

Institutional Trading of Lockheed Martin

Hedge funds have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at $26,000. Millstone Evans Group LLC acquired a new position in Lockheed Martin in the fourth quarter worth about $32,000. Mizuho Securities Co. Ltd. acquired a new position in Lockheed Martin in the fourth quarter worth about $34,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin during the fourth quarter valued at approximately $35,000. Finally, Redwood Park Advisors LLC acquired a new stake in Lockheed Martin during the fourth quarter valued at approximately $40,000. 74.19% of the stock is owned by institutional investors.

About Lockheed Martin

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.