Lockheed Martin (NYSE:LMT) Downgraded to “Hold” Rating by Melius

Melius lowered shares of Lockheed Martin (NYSE:LMT) from a buy rating to a hold rating in a research note released on Monday, Marketbeat Ratings reports.

A number of other research firms also recently weighed in on LMT. Truist Financial initiated coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target for the company. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and cut their target price for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Wells Fargo & Company reissued an “equal weight” rating on shares of Lockheed Martin in a report on Monday, March 10th. JPMorgan Chase & Co. dropped their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Finally, Morgan Stanley reduced their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin presently has an average rating of “Hold” and a consensus price target of $544.20.

Lockheed Martin Stock Performance

Shares of NYSE LMT opened at $444.88 on Monday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The firm has a market cap of $104.72 billion, a price-to-earnings ratio of 19.99, a P/E/G ratio of 2.07 and a beta of 0.43. The stock’s fifty day moving average price is $458.36 and its two-hundred day moving average price is $512.16. Lockheed Martin has a one year low of $419.70 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. On average, equities analysts forecast that Lockheed Martin will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently announced 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. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.97%. Lockheed Martin’s payout ratio is presently 59.30%.

Insider Transactions at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the sale, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the transaction, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This trade represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,133 shares of company stock worth $3,155,916. Corporate insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds have recently modified their holdings of the business. Itau Unibanco Holding S.A. bought a new position in Lockheed Martin during the 3rd quarter worth $26,000. Millstone Evans Group LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter valued at about $32,000. Mizuho Securities Co. Ltd. bought a new position in shares of Lockheed Martin during the fourth quarter worth about $34,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin in the fourth quarter worth approximately $35,000. Finally, Redwood Park Advisors LLC bought a new stake in Lockheed Martin in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

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.