Lockheed Martin (NYSE:LMT) Shares Down 0.2% on Analyst Downgrade

Shares of Lockheed Martin Co. (NYSE:LMTGet Free Report) fell 0.2% during mid-day trading on Thursday after Wells Fargo & Company lowered their price target on the stock from $500.00 to $497.00. Wells Fargo & Company currently has an equal weight rating on the stock. Lockheed Martin traded as low as $451.32 and last traded at $453.38. 492,251 shares changed hands during trading, a decline of 64% from the average session volume of 1,370,057 shares. The stock had previously closed at $454.36.

LMT has been the subject of a number of other reports. Morgan Stanley reduced their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research report on Wednesday. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Friday, January 3rd. Truist Financial assumed coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective on the stock. Citigroup reduced their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada cut their price objective on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $555.60.

Read Our Latest Stock Report on LMT

Institutional Trading of Lockheed Martin

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

Lockheed Martin Trading Up 1.0 %

The firm has a market capitalization of $108.83 billion, a P/E ratio of 16.62, a PEG ratio of 4.05 and a beta of 0.48. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The business has a 50-day moving average price of $495.56 and a 200-day moving average price of $536.97.

Lockheed Martin (NYSE:LMTGet Free Report) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. Analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.88%. Lockheed Martin’s dividend payout ratio (DPR) is presently 47.79%.

Lockheed Martin Company Profile

(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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