Lockheed Martin (NYSE:LMT) Trading Down 0.2% After Analyst Downgrade

Shares of Lockheed Martin Co. (NYSE:LMT) dropped 0.2% during trading on Thursday after StockNews.com downgraded the stock from a buy rating to a hold rating. The company traded as low as $451.32 and last traded at $453.38. Approximately 492,251 shares changed hands during trading, a decline of 64% from the average daily volume of 1,370,057 shares. The stock had previously closed at $454.36.

A number of other brokerages have also recently issued reports on LMT. Truist Financial started coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. Susquehanna decreased their price target on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday. UBS Group lowered their target price on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday. Royal Bank of Canada lowered their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Citigroup lowered their target price 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $555.60.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position in shares of Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after acquiring an additional 1,556,609 shares during the period. Van ECK Associates Corp raised its holdings in Lockheed Martin by 1,239.6% during the 4th quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock worth $266,410,000 after buying an additional 507,312 shares during the period. Los Angeles Capital Management LLC raised its holdings 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 buying an additional 249,591 shares during the period. Wellington Management Group LLP raised its holdings in Lockheed Martin by 8.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after buying an additional 240,306 shares during the period. Finally, FMR LLC raised its holdings in Lockheed Martin by 6.6% during the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after buying an additional 209,591 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Up 0.6 %

The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.12 and a current ratio of 1.13. The stock has a market capitalization of $108.88 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 3.78 and a beta of 0.48. The firm’s fifty day simple moving average is $493.89 and its 200 day simple moving average is $536.43.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. On average, sell-side analysts forecast that Lockheed Martin Co. will post 27.09 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a dividend of $3.30 per share. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.85%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

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.