Lockheed Martin (NYSE:LMT) Shares Down 0.9% Following Analyst Downgrade

Lockheed Martin Co. (NYSE:LMTGet Free Report) was down 0.9% during trading on Wednesday 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 $453.37 and last traded at $453.52. Approximately 583,477 shares traded hands during trading, a decline of 56% from the average daily volume of 1,319,499 shares. The stock had previously closed at $457.45.

LMT has been the topic of several other reports. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. Barclays lowered their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Truist Financial assumed coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target for the company. Royal Bank of Canada reduced their price objective on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and cut their target price for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus price target of $555.60.

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Institutional Investors Weigh In On Lockheed Martin

Large investors have recently modified their holdings of the company. CVA Family Office LLC lifted its holdings in shares of Lockheed Martin by 1.1% in the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after purchasing an additional 17 shares during the last quarter. AllGen Financial Advisors Inc. grew its position in shares of Lockheed Martin by 4.0% during the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock worth $274,000 after acquiring an additional 18 shares during the last quarter. Salomon & Ludwin LLC increased its holdings in shares of Lockheed Martin by 20.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock valued at $62,000 after acquiring an additional 18 shares during the period. Sunburst Financial Group LLC raised its position in Lockheed Martin by 3.3% in the 3rd quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after purchasing an additional 18 shares during the last quarter. Finally, Quad Cities Investment Group LLC boosted its stake in Lockheed Martin by 1.2% during the 3rd quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after purchasing an additional 19 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

The company’s 50-day simple moving average is $495.56 and its 200-day simple moving average is $536.97. 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 $108.83 billion, a PE ratio of 16.62, a P/E/G ratio of 4.05 and a beta of 0.48.

Lockheed Martin (NYSE:LMTGet Free Report) last posted its quarterly earnings data 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 return on equity of 101.44% and a net margin of 9.36%. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors 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 47.79%.

Lockheed Martin Company Profile

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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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