Lockheed Martin (NYSE:LMT) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of Lockheed Martin (NYSE:LMT) from a buy rating to a hold rating in a research report report published on Tuesday morning.

Other analysts have also recently issued research reports about the stock. Citigroup cut their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. JPMorgan Chase & Co. reduced their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price target for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. Finally, Royal Bank of Canada lowered Lockheed Martin from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $550.00 to $480.00 in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $539.53.

Lockheed Martin Trading Up 0.4 %

Shares of NYSE:LMT opened at $448.39 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. Lockheed Martin has a 12-month low of $419.70 and a 12-month high of $618.95. The business has a 50 day moving average of $454.45 and a two-hundred day moving average of $508.19. The company has a market capitalization of $105.55 billion, a PE ratio of 20.14, a PEG ratio of 2.07 and a beta of 0.43.

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

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Monday, March 3rd. Lockheed Martin’s payout ratio is presently 59.30%.

Insider Activity at Lockheed Martin

In other Lockheed Martin 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 directly owns 2,278 shares in the company, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now 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. Over the last three months, insiders have sold 7,133 shares of company stock worth $3,155,916. Insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Lockheed Martin

Institutional investors and hedge funds have recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in Lockheed Martin in the 3rd quarter valued at about $26,000. Millstone Evans Group LLC acquired a new position in shares of Lockheed Martin in the fourth quarter valued at approximately $32,000. Mizuho Securities Co. Ltd. purchased a new stake in Lockheed Martin during the 4th quarter worth approximately $34,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin during the 4th quarter worth approximately $35,000. Finally, Redwood Park Advisors LLC purchased a new position in Lockheed Martin in the 4th quarter valued at approximately $40,000. 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.