Lockheed Martin (NYSE:LMT) Trading Down 0.9% on Analyst Downgrade

Shares of Lockheed Martin Co. (NYSE:LMT) traded down 0.9% during trading on Wednesday after Royal Bank of Canada lowered their price target on the stock from $570.00 to $550.00. Royal Bank of Canada currently has an outperform rating on the stock. Lockheed Martin traded as low as $453.37 and last traded at $453.52. 583,477 shares traded hands during trading, a decline of 56% from the average session volume of 1,319,499 shares. The stock had previously closed at $457.45.

Other equities research analysts have also issued reports about the company. Truist Financial started coverage on Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective for the company. Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price target for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. TD Cowen raised their price objective on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird upped their target price on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Finally, Susquehanna decreased their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have assigned 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 has an average rating of “Moderate Buy” and an average price target of $556.13.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its stake in shares of Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after purchasing an additional 1,556,609 shares during the last quarter. Van ECK Associates Corp lifted its position in Lockheed Martin by 1,239.6% in the fourth quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock valued at $266,410,000 after buying an additional 507,312 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in Lockheed Martin by 124.0% during the third quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock worth $263,561,000 after buying an additional 249,591 shares during the period. Wellington Management Group LLP increased its position in shares of Lockheed Martin by 8.5% during the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after acquiring an additional 240,306 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after acquiring an additional 209,591 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The stock has a market capitalization of $107.66 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. The firm’s fifty day moving average price is $497.18 and its 200 day moving average price is $537.55.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping 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%. Analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.91%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is currently 59.30%.

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.