Lockheed Martin (NYSE:LMT) Shares Down 2.1% Following Analyst Downgrade

Lockheed Martin Co. (NYSE:LMT) shares dropped 2.1% during mid-day trading on Thursday after Wells Fargo & Company lowered their price target on the stock from $602.00 to $543.00. Wells Fargo & Company currently has an equal weight rating on the stock. Lockheed Martin traded as low as $488.71 and last traded at $493.66. Approximately 570,360 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 1,078,669 shares. The stock had previously closed at $504.24.

Several other research analysts also recently issued reports on the company. Barclays upped their price objective on Lockheed Martin from $505.00 to $565.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 6th. TD Cowen boosted their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Melius Research raised Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Robert W. Baird lifted their target price on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $612.29.

Hedge Funds Weigh In On Lockheed Martin

A number of institutional investors and hedge funds have recently modified their holdings of LMT. Itau Unibanco Holding S.A. acquired a new stake in shares of Lockheed Martin in the 3rd quarter valued at about $26,000. Mattson Financial Services LLC bought a new stake in shares of Lockheed Martin during the second quarter valued at approximately $27,000. Sachetta LLC raised its position in shares of Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares during the period. Stephens Consulting LLC lifted its holdings in shares of Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after purchasing an additional 22 shares in the last quarter. Finally, Burkett Financial Services LLC acquired a new stake in Lockheed Martin in the 3rd quarter valued at $32,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Down 1.5 %

The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The stock’s 50 day simple moving average is $557.18 and its 200 day simple moving average is $531.98. The firm has a market cap of $117.73 billion, a P/E ratio of 17.98, a price-to-earnings-growth ratio of 4.19 and a beta of 0.46.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $6.77 earnings per share. Research analysts anticipate that Lockheed Martin Co. will post 26.94 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.66%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio is 47.79%.

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.