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

Lockheed Martin Co. (NYSE:LMT)’s stock price dropped 0.9% on Wednesday after Wells Fargo & Company lowered their price target on the stock from $500.00 to $497.00. Wells Fargo & Company currently has an equal weight rating on the stock. Lockheed Martin traded as low as $453.37 and last traded at $453.52. Approximately 583,477 shares were traded during trading, a decline of 56% from the average daily volume of 1,319,499 shares. The stock had previously closed at $457.45.

Several other research firms also recently weighed in on LMT. Truist Financial assumed coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. Royal Bank of Canada cut their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research report on Wednesday. StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. reduced their price objective on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Barclays dropped their price objective on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $555.60.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds have recently bought and sold shares of the business. Itau Unibanco Holding S.A. acquired a new position in Lockheed Martin in the third quarter valued at approximately $26,000. Burkett Financial Services LLC bought a new stake in shares of Lockheed Martin during the third quarter valued at approximately $32,000. Mattson Financial Services LLC acquired a new position in shares of Lockheed Martin during the second quarter worth approximately $27,000. Capital Performance Advisors LLP bought a new position in Lockheed Martin in the 3rd quarter worth approximately $40,000. Finally, Heck Capital Advisors LLC acquired a new position in Lockheed Martin during the 4th quarter worth $35,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Price Performance

The company has a market capitalization of $108.83 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. The business has a fifty day moving average price of $495.56 and a 200 day moving average price of $536.97. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (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%. On average, research analysts expect that Lockheed Martin Co. will post 26.89 earnings per share 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. Stockholders of record on Monday, March 3rd will be given a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.88%. Lockheed Martin’s dividend payout ratio (DPR) is presently 47.79%.

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.