Lockheed Martin (NYSE:LMT) Trading Down 0.4% on Analyst Downgrade

Lockheed Martin Co. (NYSE:LMT) shares traded down 0.4% during mid-day trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $602.00 to $543.00. Wells Fargo & Company currently has an equal weight rating on the stock. Lockheed Martin traded as low as $508.60 and last traded at $510.70. 168,800 shares traded hands during trading, a decline of 84% from the average session volume of 1,076,072 shares. The stock had previously closed at $512.94.

Other research analysts have also recently issued reports about the stock. Bank of America restated a “buy” rating and issued a $635.00 price target on shares of Lockheed Martin in a report on Friday, August 30th. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research note on Tuesday, September 3rd. Citigroup increased their price objective on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Robert W. Baird lifted their target price on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Finally, Barclays increased their price target on Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and an average target price of $612.29.

Hedge Funds Weigh In On Lockheed Martin

A number of large investors have recently made changes to their positions in the business. Itau Unibanco Holding S.A. acquired a new stake in Lockheed Martin in the 3rd quarter worth approximately $26,000. Burkett Financial Services LLC acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at $32,000. Mattson Financial Services LLC acquired a new position in shares of Lockheed Martin in the 2nd quarter valued at $27,000. Sachetta LLC lifted its position in Lockheed Martin by 50.0% during the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares during the period. Finally, Stephens Consulting LLC grew its stake in Lockheed Martin by 48.9% during the 2nd quarter. Stephens Consulting LLC now owns 67 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 22 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Trading Down 0.5 %

The firm has a market cap of $120.95 billion, a PE ratio of 18.49, a P/E/G ratio of 4.19 and a beta of 0.47. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The company has a 50 day simple moving average of $559.16 and a two-hundred day simple moving average of $532.18.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the previous year, the business posted $6.77 EPS. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. Analysts expect that Lockheed Martin Co. will post 26.94 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.59%. Lockheed Martin’s dividend payout ratio is presently 47.79%.

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.