Lockheed Martin (NYSE:LMT) Trading Down 1.9% on Analyst Downgrade

Lockheed Martin Co. (NYSE:LMT) shares were down 1.9% during trading on Monday after Barclays lowered their price target on the stock from $565.00 to $515.00. Barclays currently has an equal weight rating on the stock. Lockheed Martin traded as low as $472.10 and last traded at $472.75. Approximately 400,510 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 692,487 shares. The stock had previously closed at $481.82.

Other equities research analysts have also issued research reports about the company. Citigroup raised their price target on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. UBS Group boosted their target price on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada decreased their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. TD Cowen increased their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and an average price target of $601.79.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LMT. Bank of Montreal Can lifted its position in shares of Lockheed Martin by 2.1% during the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after buying an additional 13,253 shares in the last quarter. Hilltop Holdings Inc. boosted its stake in Lockheed Martin by 79.9% in the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after purchasing an additional 5,361 shares during the period. Old West Investment Management LLC increased its position in shares of Lockheed Martin by 6.6% during the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after buying an additional 1,643 shares during the period. Virtue Capital Management LLC boosted its position in shares of Lockheed Martin by 112.8% in the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after acquiring an additional 1,192 shares during the period. Finally, World Investment Advisors LLC lifted its stake in Lockheed Martin by 55.1% in the 3rd quarter. World Investment Advisors LLC now owns 6,468 shares of the aerospace company’s stock worth $3,781,000 after purchasing an additional 2,297 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.3 %

The stock has a market cap of $110.08 billion, a P/E ratio of 16.81, a PEG ratio of 4.05 and a beta of 0.48. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The firm’s fifty day moving average price is $516.04 and its two-hundred day moving average price is $535.36.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter last year, the business earned $6.77 earnings per share. The business’s revenue was up 1.3% on a year-over-year basis. As a group, equities research analysts forecast that Lockheed Martin Co. will post 26.88 EPS for the current year.

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.