Lockheed Martin (NYSE:LMT) Cut to Hold at Melius

Melius lowered shares of Lockheed Martin (NYSE:LMT) from a buy rating to a hold rating in a research note released on Monday morning, MarketBeat.com reports.

A number of other analysts have also recently commented on LMT. UBS Group reduced their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Barclays decreased their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Truist Financial assumed coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target for the company. Susquehanna decreased their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $544.20.

Lockheed Martin Stock Performance

LMT opened at $434.72 on Monday. The company’s 50 day moving average is $459.96 and its 200 day moving average is $513.50. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The company has a market cap of $102.33 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 2.07 and a beta of 0.43. Lockheed Martin has a 12-month low of $419.70 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. On average, equities research analysts predict that Lockheed Martin will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.04%. Lockheed Martin’s payout ratio is 59.30%.

Insider Buying and Selling

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the transaction, the vice president now directly owns 2,278 shares of the company’s stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the sale, the insider now owns 2,000 shares in the company, valued at approximately $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,133 shares of company stock worth $3,155,916. Corporate insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. bought a new stake in shares of Lockheed Martin in the 3rd quarter valued at approximately $26,000. Millstone Evans Group LLC purchased a new stake in Lockheed Martin during the 4th quarter valued at $32,000. Mizuho Securities Co. Ltd. bought a new stake in Lockheed Martin in the fourth quarter worth $34,000. Heck Capital Advisors LLC purchased a new position in Lockheed Martin during the fourth quarter worth $35,000. Finally, Legacy Investment Solutions LLC bought a new position in Lockheed Martin during the third quarter valued at $42,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

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.