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

Melius Research downgraded shares of Lockheed Martin (NYSE:LMT) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks.com reports.

Several other analysts also recently issued reports on the company. Morgan Stanley dropped their price target on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Wells Fargo & Company reissued an “equal weight” rating on shares of Lockheed Martin in a research report on Monday, March 10th. Royal Bank of Canada reduced their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. Susquehanna lowered their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday, January 29th. Finally, Truist Financial began coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $544.20.

Lockheed Martin Price Performance

Shares of LMT opened at $444.88 on Monday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The firm has a market capitalization of $104.72 billion, a PE ratio of 19.99, a P/E/G ratio of 2.07 and a beta of 0.43. The stock has a 50 day simple moving average of $458.36 and a 200 day simple moving average of $512.16. Lockheed Martin has a 52-week low of $419.70 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) 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%. Sell-side analysts predict that Lockheed Martin will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s payout ratio is currently 59.30%.

Insiders Place Their Bets

In related news, VP Harry Edward Paul III sold 707 shares of Lockheed Martin 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 sale, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. This represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock valued at $3,155,916 over the last 90 days. 0.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lockheed Martin

A number of institutional investors have recently made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new stake in Lockheed Martin during the 3rd quarter worth approximately $26,000. Millstone Evans Group LLC bought a new position in Lockheed Martin during the 4th quarter worth $32,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Lockheed Martin during the fourth quarter worth $34,000. Heck Capital Advisors LLC bought a new stake in shares of Lockheed Martin in the fourth quarter valued at about $35,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Lockheed Martin in the third quarter valued at about $42,000. 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.