Lockheed Martin (NYSE:LMT) Stock Price Down 1.5% After Analyst Downgrade

Lockheed Martin Co. (NYSE:LMT)’s stock price fell 1.5% on Wednesday after Citigroup lowered their price target on the stock from $700.00 to $600.00. Citigroup currently has a buy rating on the stock. Lockheed Martin traded as low as $495.18 and last traded at $498.77. 264,880 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 1,115,190 shares. The stock had previously closed at $506.29.

A number of other brokerages have also recently issued reports on LMT. Barclays lowered their price objective on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Susquehanna lowered their price target on Lockheed Martin from $695.00 to $590.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company cut their price objective on shares of Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird lifted their target price on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Finally, UBS Group increased their price target on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $577.73.

Institutional Investors Weigh In On Lockheed Martin

Large investors have recently made changes to their positions in the company. CVA Family Office LLC grew its position in Lockheed Martin by 1.1% during the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after buying an additional 17 shares during the period. AllGen Financial Advisors Inc. raised its holdings in Lockheed Martin by 4.0% in the 3rd quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock worth $274,000 after purchasing an additional 18 shares during the period. Salomon & Ludwin LLC raised its holdings in Lockheed Martin by 20.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock worth $62,000 after purchasing an additional 18 shares during the period. Sunburst Financial Group LLC lifted its position in Lockheed Martin by 3.3% during the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after purchasing an additional 18 shares in the last quarter. Finally, Quad Cities Investment Group LLC grew its holdings in Lockheed Martin by 1.2% during the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after purchasing an additional 19 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Performance

The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The firm has a market cap of $118.38 billion, a PE ratio of 18.08, a PEG ratio of 3.96 and a beta of 0.48. The business has a 50-day simple moving average of $502.01 and a 200 day simple moving average of $536.51.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter last year, the business posted $6.77 earnings per share. The firm’s revenue was up 1.3% on a year-over-year basis. Equities research analysts forecast that Lockheed Martin Co. will post 26.8 EPS for the current year.

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.