Lockheed Martin (NYSE:LMT) Lowered to Neutral Rating by Bank of America

Lockheed Martin (NYSE:LMT) was downgraded by equities research analysts at Bank of America from a “buy” rating to a “neutral” rating in a report released on Monday, Marketbeat reports. They currently have a $485.00 target price on the aerospace company’s stock, down from their prior target price of $685.00. Bank of America‘s target price points to a potential upside of 10.16% from the company’s previous close.

Several other equities analysts also recently issued reports on LMT. Barclays decreased their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Royal Bank of Canada cut their price objective on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Melius downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday. StockNews.com cut Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and decreased their price objective for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Lockheed Martin currently has a consensus rating of “Hold” and an average price target of $544.20.

Lockheed Martin Price Performance

NYSE:LMT opened at $440.26 on Monday. The stock has a market capitalization of $103.63 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. Lockheed Martin has a 52 week low of $419.70 and a 52 week high of $618.95. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The stock’s 50-day moving average price is $460.94 and its 200-day moving average price is $514.45.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data 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 101.47% and a net margin of 7.51%. As a group, equities analysts expect that Lockheed Martin will post 27.15 EPS for the current fiscal year.

Insider Activity at Lockheed Martin

In other news, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the transaction, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now owns 2,000 shares of the company’s stock, valued at $884,840. This trade represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,133 shares of company stock worth $3,155,916. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. acquired a new stake in shares of Lockheed Martin in the third quarter valued at $26,000. Millstone Evans Group LLC purchased a new stake in Lockheed Martin during the 4th quarter worth about $32,000. Mizuho Securities Co. Ltd. acquired a new stake in Lockheed Martin in the 4th quarter valued at about $34,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at about $35,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Lockheed Martin in the 3rd quarter valued at about $42,000. Hedge funds and other institutional investors 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.