Lockheed Martin (NYSE:LMT) Shares Down 0.1% on Analyst Downgrade

Lockheed Martin Co. (NYSE:LMT) shares dropped 0.1% during trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $546.00 to $540.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Lockheed Martin traded as low as $481.50 and last traded at $483.38. Approximately 130,529 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 1,046,931 shares. The stock had previously closed at $483.97.

A number of other analysts also recently issued reports on the company. Citigroup raised their target price on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price target for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Wells Fargo & Company cut their price objective on Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. Barclays cut their price objective on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Finally, StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $584.40.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LMT. CVA Family Office LLC grew its stake in shares of Lockheed Martin by 1.1% during 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 in the last quarter. AllGen Financial Advisors Inc. raised its position in shares of 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 in the last quarter. Salomon & Ludwin LLC raised its holdings in shares of Lockheed Martin by 20.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock worth $62,000 after purchasing an additional 18 shares in the last quarter. Sunburst Financial Group LLC raised its holdings in Lockheed Martin by 3.3% during the 3rd quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock worth $331,000 after buying an additional 18 shares during the period. Finally, Quad Cities Investment Group LLC boosted its holdings in shares of Lockheed Martin by 1.2% during the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after purchasing an additional 19 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.2 %

The company’s 50 day moving average price is $508.95 and its 200 day moving average price is $535.59. The company has a market cap of $114.52 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 3.76 and a beta of 0.48. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the previous year, the company posted $6.77 earnings per share. The business’s revenue was up 1.3% on a year-over-year basis. Research analysts anticipate that Lockheed Martin Co. will post 26.89 EPS for the current year.

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.