Lockheed Martin (NYSE:LMT) Downgraded by Melius Research to “Hold”

Lockheed Martin (NYSE:LMT) was downgraded by analysts at Melius Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. StockNews.com raised shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research note on Monday. Morgan Stanley decreased their price target on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price objective on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Barclays decreased their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Finally, Truist Financial initiated coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $544.20.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $442.63 on Monday. The stock has a market cap of $104.19 billion, a P/E ratio of 19.88, a P/E/G ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The stock’s fifty day moving average is $459.13 and its 200 day moving average is $512.63. Lockheed Martin has a one year low of $419.70 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data 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 return on equity of 101.47% and a net margin of 7.51%. Sell-side analysts anticipate that Lockheed Martin will post 27.15 earnings per share for the current year.

Insider Transactions at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the transaction, the vice president now directly owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the sale, the insider now directly owns 2,000 shares in the company, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lockheed Martin

Several hedge funds and other institutional investors have recently modified their holdings of LMT. Larson Financial Group LLC grew its holdings in shares of Lockheed Martin by 42.9% in the third quarter. Larson Financial Group LLC now owns 630 shares of the aerospace company’s stock worth $368,000 after purchasing an additional 189 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Lockheed Martin by 0.9% in the third quarter. Fisher Asset Management LLC now owns 6,742 shares of the aerospace company’s stock valued at $3,941,000 after purchasing an additional 61 shares during the period. Patton Albertson Miller Group LLC bought a new position in Lockheed Martin in the third quarter worth approximately $205,000. FMR LLC increased 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 purchasing an additional 209,591 shares during the period. Finally, Avestar Capital LLC raised its position in Lockheed Martin by 5.2% during the 3rd quarter. Avestar Capital LLC now owns 1,248 shares of the aerospace company’s stock valued at $730,000 after purchasing an additional 62 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

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.