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

Lockheed Martin Co. (NYSE:LMT) shares dropped 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. Approximately 400,510 shares traded hands during trading, a decline of 42% from the average daily volume of 692,487 shares. The stock had previously closed at $481.82.

Several other equities research analysts have also commented on LMT. Robert W. Baird boosted their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and dropped their target price for the stock from $611.00 to $523.00 in a research note on Thursday. Royal Bank of Canada dropped their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company decreased 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 report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $601.79.

Institutional Trading of Lockheed Martin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LMT. Lantz Financial LLC increased its holdings in Lockheed Martin by 2.6% during the second quarter. Lantz Financial LLC now owns 4,882 shares of the aerospace company’s stock valued at $2,281,000 after buying an additional 123 shares during the last quarter. Savant Capital LLC increased its stake in shares of Lockheed Martin by 12.4% in the second quarter. Savant Capital LLC now owns 7,715 shares of the aerospace company’s stock worth $3,604,000 after purchasing an additional 852 shares in the last quarter. Chicago Capital LLC increased its stake in shares of Lockheed Martin by 11.7% in the second quarter. Chicago Capital LLC now owns 1,771 shares of the aerospace company’s stock worth $827,000 after purchasing an additional 185 shares in the last quarter. Norden Group LLC increased its stake in shares of Lockheed Martin by 15.5% in the second quarter. Norden Group LLC now owns 1,370 shares of the aerospace company’s stock worth $640,000 after purchasing an additional 184 shares in the last quarter. Finally, Strategic Financial Concepts LLC increased its stake in shares of Lockheed Martin by 27,457.9% in the second quarter. Strategic Financial Concepts LLC now owns 132,278 shares of the aerospace company’s stock worth $618,000 after purchasing an additional 131,798 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Trading Down 2.8 %

The stock’s 50 day moving average price is $519.47 and its 200-day moving average price is $535.38. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The stock has a market capitalization of $110.99 billion, a PE ratio of 16.95, a PEG ratio of 4.05 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data 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 firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company posted $6.77 earnings per share. On average, sell-side analysts expect that Lockheed Martin Co. will post 26.88 earnings per share for the current fiscal year.

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.