Royal Bank of Canada Has Lowered Expectations for Lockheed Martin (NYSE:LMT) Stock Price

Lockheed Martin (NYSE:LMT) had its target price decreased by Royal Bank of Canada from $570.00 to $550.00 in a report released on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the aerospace company’s stock.

LMT has been the topic of several other reports. Susquehanna dropped their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a report on Wednesday. StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Friday, January 3rd. TD Cowen raised their price objective on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Truist Financial initiated coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective on the stock. Finally, Citigroup dropped their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $556.13.

Lockheed Martin Stock Down 0.7 %

Lockheed Martin stock opened at $454.18 on Wednesday. The firm has a market cap of $107.66 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. Lockheed Martin has a 52 week low of $413.92 and a 52 week high of $618.95. The business’s 50-day moving average price is $497.18 and its 200 day moving average price is $537.55. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. As a group, sell-side analysts anticipate that Lockheed Martin will post 26.89 earnings per share for the current year.

Lockheed Martin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be paid a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is presently 47.79%.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. purchased a new position in Lockheed Martin during the third quarter worth approximately $26,000. Burkett Financial Services LLC purchased a new position in Lockheed Martin during the third quarter worth approximately $32,000. Mattson Financial Services LLC purchased a new position in Lockheed Martin during the second quarter worth approximately $27,000. Capital Performance Advisors LLP purchased a new position in Lockheed Martin during the third quarter worth approximately $40,000. Finally, Heck Capital Advisors LLC purchased a new position in Lockheed Martin during the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors 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.