Lockheed Martin (NYSE:LMT) Shares Down 1.9% Following Analyst Downgrade

Lockheed Martin Co. (NYSE:LMT) fell 1.9% during trading on Monday after Barclays lowered their price target on the stock from $565.00 to $515.00. Barclays currently has an equal weight rating on the stock. Lockheed Martin traded as low as $472.10 and last traded at $472.75. 400,510 shares were traded during mid-day trading, a decline of 42% from the average session volume of 692,487 shares. The stock had previously closed at $481.82.

Other equities analysts have also recently issued research reports about the stock. Susquehanna dropped their price objective on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research note on Wednesday, October 23rd. TD Cowen raised their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price objective on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Wells Fargo & Company cut their target price on Lockheed Martin from $602.00 to $543.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Finally, Citigroup boosted their price target on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and a consensus price target of $601.79.

Institutional Investors Weigh In On Lockheed Martin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Range Financial Group LLC raised its position in Lockheed Martin by 158.2% in the 4th quarter. Range Financial Group LLC now owns 2,505 shares of the aerospace company’s stock worth $1,217,000 after purchasing an additional 1,535 shares during the last quarter. Bath Savings Trust Co raised its position in shares of Lockheed Martin by 7.5% during the fourth quarter. Bath Savings Trust Co now owns 10,820 shares of the aerospace company’s stock worth $5,258,000 after acquiring an additional 758 shares during the last quarter. Diversified Trust Co boosted its holdings in Lockheed Martin by 6.0% in the fourth quarter. Diversified Trust Co now owns 9,009 shares of the aerospace company’s stock valued at $4,378,000 after acquiring an additional 506 shares during the last quarter. Fortem Financial Group LLC increased its position in Lockheed Martin by 2.3% in the fourth quarter. Fortem Financial Group LLC now owns 1,875 shares of the aerospace company’s stock worth $911,000 after purchasing an additional 43 shares during the period. Finally, Silverleafe Capital Partners LLC raised its holdings in Lockheed Martin by 3.0% during the 4th quarter. Silverleafe Capital Partners LLC now owns 6,396 shares of the aerospace company’s stock worth $3,108,000 after purchasing an additional 189 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.3 %

The business’s 50-day simple moving average is $516.04 and its 200-day simple moving average is $535.36. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The company has a market capitalization of $110.08 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 4.05 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $6.77 earnings per share. On average, research analysts expect that Lockheed Martin Co. will post 26.88 earnings per share for the current fiscal year.

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.