Lockheed Martin (NYSE:LMT) Trading Down 1.5% Following Analyst Downgrade

Lockheed Martin Co. (NYSE:LMTGet Free Report)’s stock price dropped 1.5% during trading on Wednesday after Citigroup lowered their price target on the stock from $700.00 to $600.00. Citigroup currently has a buy rating on the stock. Lockheed Martin traded as low as $495.18 and last traded at $498.77. Approximately 264,880 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 1,115,190 shares. The stock had previously closed at $506.29.

Other research analysts have also issued reports about the stock. Truist Financial initiated coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price target for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. UBS Group upped their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Robert W. Baird upped their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. cut their price target on shares of Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus price target of $577.73.

View Our Latest Analysis on Lockheed Martin

Institutional Investors Weigh In On Lockheed Martin

A number of large investors have recently added to or reduced their stakes in LMT. Itau Unibanco Holding S.A. acquired a new stake in Lockheed Martin during the 3rd quarter valued at $26,000. Mattson Financial Services LLC bought a new position in shares of Lockheed Martin in the 2nd quarter worth about $27,000. Burkett Financial Services LLC bought a new position in shares of Lockheed Martin in the 3rd quarter worth about $32,000. Heck Capital Advisors LLC bought a new position in shares of Lockheed Martin in the 4th quarter worth about $35,000. Finally, Capital Performance Advisors LLP bought a new stake in Lockheed Martin in the 3rd quarter valued at about $40,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

The stock has a market capitalization of $117.79 billion, a P/E ratio of 17.99, a P/E/G ratio of 4.11 and a beta of 0.48. The company’s 50-day moving average is $500.84 and its two-hundred day moving average is $536.25. 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:LMTGet Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the previous year, the firm earned $6.77 EPS. Lockheed Martin’s revenue was up 1.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 26.81 EPS for the current fiscal year.

About Lockheed Martin

(Get Free Report)

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.

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