Lockheed Martin (NYSE:LMT) Shares Down 0.2% on Analyst Downgrade

Lockheed Martin Co. (NYSE:LMT) shares were down 0.2% on Thursday after Wells Fargo & Company lowered their price target on the stock from $500.00 to $497.00. Wells Fargo & Company currently has an equal weight rating on the stock. Lockheed Martin traded as low as $451.32 and last traded at $453.38. Approximately 492,251 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 1,370,057 shares. The stock had previously closed at $454.36.

A number of other analysts also recently issued reports on LMT. Morgan Stanley dropped their price target on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research report on Wednesday. Citigroup dropped their price target 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. Truist Financial initiated coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. Susquehanna dropped their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research report on Wednesday. Finally, TD Cowen boosted their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research 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 assigned a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus target price of $555.60.

Institutional Investors Weigh In On Lockheed Martin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LMT. Itau Unibanco Holding S.A. bought a new position in shares of Lockheed Martin during the third quarter valued at $26,000. Mattson Financial Services LLC purchased a new stake in shares of Lockheed Martin during the second quarter worth about $27,000. Burkett Financial Services LLC purchased a new position in Lockheed Martin during the 3rd quarter valued at approximately $32,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin during the 4th quarter valued at approximately $35,000. Finally, Capital Performance Advisors LLP purchased a new position in Lockheed Martin during the 3rd quarter valued at approximately $40,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

The firm has a market capitalization of $108.83 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. The firm has a 50 day moving average price of $495.56 and a 200-day moving average price of $536.97. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. On average, analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.88%. Lockheed Martin’s payout ratio is presently 47.79%.

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.