Lockheed Martin (NYSE:LMT) Stock Price Down 1.9% on Analyst Downgrade

Lockheed Martin Co. (NYSE:LMT)’s stock price fell 1.9% on Monday after Barclays lowered their price target on the stock from $565.00 to $515.00. Barclays currently has an equal weight rating on the stock. Lockheed Martin traded as low as $472.10 and last traded at $472.75. 400,510 shares were traded during trading, a decline of 42% from the average session volume of 692,487 shares. The stock had previously closed at $481.82.

A number of other brokerages have also weighed in on LMT. TD Cowen upped their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company lowered their price objective on shares of Lockheed Martin from $602.00 to $543.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. JPMorgan Chase & Co. increased their price objective on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. UBS Group raised their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Citigroup raised their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average price target of $601.79.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LMT. International Assets Investment Management LLC increased its stake in 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 worth $911,433,000 after buying an additional 1,556,609 shares during the period. Wulff Hansen & CO. increased its position in Lockheed Martin by 56,626.7% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after purchasing an additional 1,019,281 shares during the period. Los Angeles Capital Management LLC increased its position 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 valued at $263,561,000 after purchasing an additional 249,591 shares during the period. Wellington Management Group LLP increased its position 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 valued at $1,797,437,000 after purchasing an additional 240,306 shares during the period. Finally, FMR LLC increased its position in Lockheed Martin by 6.6% during the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after purchasing an additional 209,591 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 2.8 %

The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The firm has a market cap of $110.99 billion, a PE ratio of 16.95, a P/E/G ratio of 4.05 and a beta of 0.48. The business’s 50-day simple moving average is $519.47 and its 200 day simple moving average is $535.38.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $6.77 EPS. As a group, equities research analysts expect that Lockheed Martin Co. will post 26.88 earnings per share for the current year.

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.