Lockheed Martin (NYSE:LMT) Downgraded by Melius to Hold

Melius lowered shares of Lockheed Martin (NYSE:LMT) from a buy rating to a hold rating in a research report sent to investors on Monday, Marketbeat Ratings reports.

Several other research firms have also recently commented on LMT. Truist Financial assumed coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. Barclays lowered their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. UBS Group reduced their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. Morgan Stanley lowered their target price on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada dropped their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $544.20.

Lockheed Martin Stock Down 1.1 %

Shares of NYSE:LMT opened at $434.72 on Monday. Lockheed Martin has a 1 year low of $419.70 and a 1 year high of $618.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The stock’s 50-day moving average is $459.96 and its 200 day moving average is $513.50. The company has a market cap of $102.33 billion, a PE ratio of 19.53, a P/E/G ratio of 2.07 and a beta of 0.43.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) 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%. Sell-side analysts anticipate that Lockheed Martin will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently disclosed 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 is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 3.04%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Insiders Place Their Bets

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of Lockheed Martin 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 sale, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the transaction, the insider now owns 2,000 shares of the company’s stock, valued at $884,840. This represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,133 shares of company stock valued at $3,155,916. Insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Lockheed Martin

Several large investors have recently bought and sold shares of LMT. Itau Unibanco Holding S.A. bought a new stake in shares of Lockheed Martin in the third quarter worth approximately $26,000. Millstone Evans Group LLC purchased a new stake in Lockheed Martin in the fourth quarter worth approximately $32,000. Mizuho Securities Co. Ltd. bought a new stake in Lockheed Martin in the 4th quarter worth approximately $34,000. Heck Capital Advisors LLC purchased a new stake in Lockheed Martin during the 4th quarter valued at $35,000. Finally, Redwood Park Advisors LLC bought a new position in shares of Lockheed Martin during the 4th quarter valued at $40,000. 74.19% of the stock is currently owned by institutional investors.

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.