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

StockNews.com downgraded shares of Lockheed Martin (NYSE:LMT) from a strong-buy rating to a buy rating in a report released on Wednesday.

LMT has been the topic of several other reports. Melius upgraded Lockheed Martin from a hold rating to a buy rating and set a $704.00 price target on the stock in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. upped their target price on Lockheed Martin from $518.00 to $560.00 and gave the company an overweight rating in a research note on Thursday, July 25th. Bank of America reiterated a buy rating and set a $635.00 price target on shares of Lockheed Martin in a research note on Friday, August 30th. Melius Research upgraded shares of Lockheed Martin to a strong-buy rating in a research note on Tuesday, September 3rd. Finally, Morgan Stanley lifted their target price on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an equal weight rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $553.43.

Lockheed Martin Stock Performance

LMT opened at $603.31 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10. The stock’s 50 day moving average price is $562.41 and its two-hundred day moving average price is $497.26. The firm has a market capitalization of $144.76 billion, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 4.66 and a beta of 0.47. Lockheed Martin has a 12-month low of $393.77 and a 12-month high of $611.49.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.45 by $0.66. The business had revenue of $18.12 billion for the quarter, compared to analyst estimates of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. Lockheed Martin’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.73 earnings per share. On average, equities analysts forecast that Lockheed Martin will post 26.65 earnings per share for the current year.

Insider Buying and Selling

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the transaction, the insider now directly owns 8,877 shares of the company’s stock, valued at $4,574,850.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by corporate insiders.

Institutional Trading of Lockheed Martin

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lake Street Advisors Group LLC bought a new position in Lockheed Martin in the fourth quarter valued at approximately $580,000. Tower Research Capital LLC TRC boosted its position in shares of Lockheed Martin by 116.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 26,695 shares of the aerospace company’s stock worth $12,099,000 after purchasing an additional 14,368 shares during the last quarter. Cetera Advisor Networks LLC increased its holdings in Lockheed Martin by 5.4% in the fourth quarter. Cetera Advisor Networks LLC now owns 82,485 shares of the aerospace company’s stock valued at $37,385,000 after purchasing an additional 4,189 shares during the last quarter. Cibc World Markets Corp lifted its stake in Lockheed Martin by 106.3% in the fourth quarter. Cibc World Markets Corp now owns 31,292 shares of the aerospace company’s stock valued at $14,183,000 after buying an additional 16,121 shares during the period. Finally, Exencial Wealth Advisors LLC boosted its holdings in Lockheed Martin by 7.4% during the fourth quarter. Exencial Wealth Advisors LLC now owns 4,825 shares of the aerospace company’s stock worth $2,187,000 after buying an additional 332 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

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.