Lockheed Martin (NYSE:LMT) Shares Down 2.1% on Analyst Downgrade

Shares of Lockheed Martin Co. (NYSE:LMT) traded down 2.1% during trading on Thursday after Wells Fargo & Company lowered their price target on the stock from $602.00 to $543.00. Wells Fargo & Company currently has an equal weight rating on the stock. Lockheed Martin traded as low as $488.71 and last traded at $493.66. 570,360 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 1,078,669 shares. The stock had previously closed at $504.24.

Several other equities research analysts have also recently commented on LMT. Melius upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research report on Tuesday, September 3rd. UBS Group lifted their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their target price on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Melius Research raised shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, TD Cowen increased their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $612.29.

Hedge Funds Weigh In On Lockheed Martin

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

Lockheed Martin Stock Down 2.1 %

The company has a market cap of $117.02 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 4.19 and a beta of 0.47. 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 stock’s fifty day moving average is $557.18 and its two-hundred day moving average is $531.98.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Lockheed Martin’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.77 earnings per share. Sell-side analysts predict that Lockheed Martin Co. will post 26.94 earnings per share for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be issued a dividend of $3.30 per share. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a yield of 2.67%. Lockheed Martin’s payout ratio is 47.79%.

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.