Lockheed Martin (NYSE:LMT) Downgraded to Sector Perform Rating by Royal Bank of Canada

Lockheed Martin (NYSE:LMT) was downgraded by equities researchers at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report issued on Thursday,Briefing.com Automated Import reports. They currently have a $480.00 price target on the aerospace company’s stock, down from their previous price target of $550.00. Royal Bank of Canada’s price objective indicates a potential upside of 7.89% from the stock’s previous close.

A number of other brokerages have also recently weighed in on LMT. Morgan Stanley dropped 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, January 29th. Truist Financial assumed coverage on Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price for the company. JPMorgan Chase & Co. cut their price objective on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Barclays lowered their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Finally, UBS Group dropped their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $539.53.

Lockheed Martin Stock Up 0.6 %

Lockheed Martin stock opened at $444.88 on Thursday. The stock has a 50-day simple moving average of $458.36 and a 200-day simple moving average of $512.16. Lockheed Martin has a fifty-two week low of $419.70 and a fifty-two week high of $618.95. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The company has a market capitalization of $104.72 billion, a P/E ratio of 19.99, a PEG ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts expect that Lockheed Martin will post 27.15 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the transaction, the vice president now directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock valued at $3,155,916 in the last three months. Insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new stake in Lockheed Martin during the 3rd quarter valued at $26,000. Millstone Evans Group LLC purchased a new position in Lockheed Martin during the fourth quarter valued at $32,000. Mizuho Securities Co. Ltd. bought a new position in Lockheed Martin in the 4th quarter worth about $34,000. Heck Capital Advisors LLC purchased a new stake in shares of Lockheed Martin during the fourth quarter valued at approximately $35,000. Finally, Redwood Park Advisors LLC purchased a new position in shares of Lockheed Martin in the fourth quarter worth $40,000. 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.