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

Melius Research lowered shares of Lockheed Martin (NYSE:LMT) from a strong-buy rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

LMT has been the subject of several other research reports. Susquehanna cut 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. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and cut their price target for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. Citigroup dropped their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. Royal Bank of Canada reduced their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Finally, StockNews.com raised Lockheed Martin from a “hold” rating to a “buy” rating in a report on Monday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Lockheed Martin currently has an average rating of “Hold” and a consensus target price of $544.20.

Lockheed Martin Price Performance

NYSE LMT opened at $442.63 on Monday. The company has a 50-day moving average price of $459.13 and a two-hundred day moving average price of $512.63. The stock has a market cap of $104.19 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. Lockheed Martin has a 52 week low of $419.70 and a 52 week high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (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%. Analysts forecast that Lockheed Martin will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm 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 annualized dividend and a yield of 2.98%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Insider Transactions at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the transaction, the insider now owns 2,000 shares in the company, valued at approximately $884,840. This represents a 61.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction 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 transaction, the vice president now owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock valued at $3,155,916 over the last three months. 0.17% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lockheed Martin

Several institutional investors have recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new position in Lockheed Martin during the third quarter valued at approximately $26,000. Millstone Evans Group LLC acquired a new position in shares of Lockheed Martin during the 4th quarter worth $32,000. Mizuho Securities Co. Ltd. bought a new position in shares of Lockheed Martin during the 4th quarter valued at $34,000. Heck Capital Advisors LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at $35,000. Finally, Legacy Investment Solutions LLC bought a new stake in Lockheed Martin in the third quarter worth $42,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

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.