Lockheed Martin (NYSE:LMT) Cut to “Hold” at Melius Research

Melius Research lowered shares of Lockheed Martin (NYSE:LMT) from a strong-buy rating to a hold rating in a report released on Monday,Zacks.com reports.

A number of other analysts also recently weighed in on LMT. Bank of America downgraded shares of Lockheed Martin from a “buy” rating to a “neutral” rating and reduced their price target for the company from $685.00 to $485.00 in a report on Monday. UBS Group decreased their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Susquehanna cut their price target on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price objective on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Hold” and an average target price of $544.20.

Lockheed Martin Stock Performance

NYSE:LMT opened at $442.63 on Monday. The firm has a market capitalization of $104.19 billion, a PE ratio of 19.88, a PEG ratio of 2.07 and a beta of 0.43. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. Lockheed Martin has a 1 year low of $419.70 and a 1 year high of $618.95. The firm’s fifty day simple moving average is $459.13 and its 200 day simple moving average is $512.63.

Lockheed Martin (NYSE:LMT) last released its 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 101.47% and a net margin of 7.51%. On average, sell-side analysts anticipate that Lockheed Martin will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is currently 59.30%.

Insider Activity at Lockheed Martin

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. bought a new position in shares of Lockheed Martin in the third quarter worth about $26,000. Millstone Evans Group LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter valued at approximately $32,000. Mizuho Securities Co. Ltd. bought a new position in Lockheed Martin in the 4th quarter worth approximately $34,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin during the 4th quarter worth $35,000. Finally, Redwood Park Advisors LLC bought a new position in Lockheed Martin in the 4th quarter valued at $40,000. Institutional investors and hedge funds 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.