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

Royal Bank of Canada lowered shares of Lockheed Martin (NYSE:LMT) from an outperform rating to a sector perform rating in a research note released on Thursday, MarketBeat reports. Royal Bank of Canada currently has $480.00 price objective on the aerospace company’s stock, down from their previous price objective of $550.00.

Several other research analysts have also recently commented on LMT. JPMorgan Chase & Co. reduced their target price 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. StockNews.com upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research report on Monday. Wells Fargo & Company reissued an “equal weight” rating on shares of Lockheed Martin in a research report on Monday, March 10th. Citigroup decreased their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Finally, Bank of America cut Lockheed Martin from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $685.00 to $485.00 in a report on Monday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $539.53.

Lockheed Martin Stock Down 0.7 %

Shares of Lockheed Martin stock opened at $442.27 on Thursday. Lockheed Martin has a 12-month low of $419.70 and a 12-month high of $618.95. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The stock has a 50 day moving average price of $457.47 and a two-hundred day moving average price of $511.67. The stock has a market capitalization of $104.10 billion, a P/E ratio of 19.87, a PEG ratio of 2.07 and a beta of 0.43.

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

Lockheed Martin Announces Dividend

The business 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 $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.98%. Lockheed Martin’s dividend payout ratio (DPR) is currently 59.30%.

Insiders Place Their Bets

In related news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction dated Wednesday, February 26th. The shares were 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 in the company, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. This trade represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock valued at $3,155,916 in the last quarter. Insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. M1 Capital Management LLC bought a new position in Lockheed Martin in the 4th quarter worth $235,000. DSG Capital Advisors LLC purchased a new position in shares of Lockheed Martin in the fourth quarter valued at about $235,000. Chancellor Financial Group WB LP bought a new position in shares of Lockheed Martin in the fourth quarter worth about $209,000. 111 Capital purchased a new stake in shares of Lockheed Martin during the fourth quarter worth about $1,155,000. Finally, Thoma Capital Management LLC purchased a new stake in shares of Lockheed Martin during the fourth quarter worth about $524,000. 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.