Lockheed Martin (NYSE:LMT) Rating Lowered to Neutral at Bank of America

Lockheed Martin (NYSE:LMT) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. They currently have a $485.00 target price on the aerospace company’s stock, down from their previous target price of $685.00. Bank of America‘s target price suggests a potential upside of 9.57% from the company’s current price.

LMT has been the topic of a number of other reports. JPMorgan Chase & Co. dropped their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Citigroup lowered their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Morgan Stanley cut their target price on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. StockNews.com downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus price target of $544.20.

Lockheed Martin Stock Up 1.8 %

LMT opened at $442.63 on Monday. Lockheed Martin has a 52 week low of $419.70 and a 52 week high of $618.95. The business has a 50 day moving average price of $459.13 and a two-hundred day moving average price of $512.63. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The company has a market cap of $104.19 billion, a PE ratio of 19.88, a P/E/G ratio of 2.07 and a beta of 0.43.

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

Insider Buying and Selling

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

Institutional Trading of Lockheed Martin

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Lockheed Martin in the third quarter valued at $26,000. Millstone Evans Group LLC purchased a new stake in Lockheed Martin in the 4th quarter valued at about $32,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Lockheed Martin during the 4th quarter valued at about $34,000. Heck Capital Advisors LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter worth approximately $35,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Lockheed Martin in the third quarter worth approximately $42,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

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.