Lockheed Martin (NYSE:LMT) Downgraded to “Buy” at StockNews.com

StockNews.com cut shares of Lockheed Martin (NYSE:LMT) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday.

LMT has been the topic of several other research reports. Susquehanna lowered their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday. Citigroup upped their target price on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. UBS Group upped their price objective on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research report on Tuesday, September 3rd. Finally, Wells Fargo & Company lifted their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $606.71.

Lockheed Martin Stock Performance

Shares of NYSE LMT opened at $562.29 on Wednesday. Lockheed Martin has a 12-month low of $413.92 and a 12-month high of $618.95. The company has a market cap of $134.03 billion, a PE ratio of 20.36, a P/E/G ratio of 4.62 and a beta of 0.47. The stock has a 50 day simple moving average of $580.07 and a 200-day simple moving average of $515.08. The company has a current ratio of 1.30, a quick ratio of 1.07 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.77 EPS. On average, equities research analysts forecast that Lockheed Martin will post 26.65 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.35%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is presently 45.62%.

Institutional Trading of Lockheed Martin

Hedge funds and other institutional investors have recently modified their holdings of the business. Mattson Financial Services LLC purchased a new stake in Lockheed Martin in the 2nd quarter worth about $27,000. Sachetta LLC increased its holdings in shares of Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares during the period. Wiser Advisor Group LLC boosted its holdings in shares of Lockheed Martin by 65.8% during the first quarter. Wiser Advisor Group LLC now owns 63 shares of the aerospace company’s stock worth $29,000 after purchasing an additional 25 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in Lockheed Martin during the first quarter valued at approximately $30,000. Finally, Stephens Consulting LLC lifted its position in Lockheed Martin by 48.9% in the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock worth $31,000 after buying an additional 22 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

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.