Lockheed Martin (NYSE:LMT) Stock Price Down 0.9% on Analyst Downgrade

Lockheed Martin Co. (NYSE:LMT)’s stock price traded down 0.9% during mid-day trading on Wednesday after Susquehanna lowered their price target on the stock from $590.00 to $550.00. Susquehanna currently has a positive rating on the stock. Lockheed Martin traded as low as $453.37 and last traded at $453.52. 583,477 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 1,319,499 shares. The stock had previously closed at $457.45.

LMT has been the topic of several other reports. Citigroup dropped their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. TD Cowen raised their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their target price on shares of Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. UBS Group cut their price target on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Robert W. Baird boosted their price objective on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. One equities 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $568.73.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. International Assets Investment Management LLC boosted its position in Lockheed Martin by 60,592.0% during the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after buying an additional 1,556,609 shares during the period. Los Angeles Capital Management LLC grew its position in Lockheed Martin by 124.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock worth $263,561,000 after acquiring an additional 249,591 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Lockheed Martin by 8.5% during the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after purchasing an additional 240,306 shares during the period. FMR LLC grew its holdings in shares of Lockheed Martin by 6.6% in the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after purchasing an additional 209,591 shares during the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Lockheed Martin in the fourth quarter worth $77,376,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 1.1 %

The company has a market capitalization of $107.23 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The stock’s fifty day moving average is $497.18 and its 200 day moving average is $537.55.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Research analysts predict that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.92%. Lockheed Martin’s dividend payout ratio (DPR) is presently 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.