Lockheed Martin (NYSE:LMT) Stock Price Down 0.7% Following Analyst Downgrade

Lockheed Martin Co. (NYSE:LMT) shares dropped 0.7% during trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $497.00 to $468.00. Wells Fargo & Company currently has an equal weight rating on the stock. Lockheed Martin traded as low as $441.75 and last traded at $445.54. Approximately 277,217 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 1,548,931 shares. The stock had previously closed at $448.46.

LMT has been the subject of several other reports. JPMorgan Chase & Co. reduced their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Barclays reduced their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Morgan Stanley reduced their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. UBS Group reduced their price objective on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Finally, Susquehanna reduced their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $553.67.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds and other institutional investors have recently made changes to their positions in the business. Itau Unibanco Holding S.A. acquired a new position in Lockheed Martin in the third quarter valued at $26,000. Millstone Evans Group LLC acquired a new position in Lockheed Martin in the fourth quarter valued at $32,000. Mizuho Securities Co. Ltd. acquired a new position in Lockheed Martin in the fourth quarter valued at $34,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin in the fourth quarter valued at $35,000. Finally, Capital Performance Advisors LLP acquired a new position in Lockheed Martin in the third quarter valued at $40,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 1.5 %

The stock has a market cap of $103.94 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 2.07 and a beta of 0.48. 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 has a fifty day moving average of $467.23 and a two-hundred day moving average of $526.63.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share 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, analysts predict that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is presently 59.30%.

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.