Lockheed Martin (NYSE:LMT) Stock Price Down 0.2% Following Analyst Downgrade

Lockheed Martin Co. (NYSE:LMT)’s stock price was down 0.2% during trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $540.00 to $535.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Lockheed Martin traded as low as $451.32 and last traded at $453.38. Approximately 492,251 shares traded hands during trading, a decline of 64% from the average daily volume of 1,370,057 shares. The stock had previously closed at $454.36.

Other equities analysts also recently issued reports about the stock. UBS Group decreased their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research note on Wednesday. Wells Fargo & Company dropped their target price on Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. Susquehanna dropped their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday. TD Cowen boosted their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Truist Financial began coverage on Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $555.80.

Hedge Funds Weigh In On Lockheed Martin

Several institutional investors and hedge funds have recently modified their holdings of the stock. Itau Unibanco Holding S.A. acquired a new position in Lockheed Martin during the third quarter worth $26,000. Mattson Financial Services LLC bought a new stake in shares of Lockheed Martin in the second quarter valued at approximately $27,000. Burkett Financial Services LLC acquired a new stake in Lockheed Martin in the 3rd quarter worth $32,000. Heck Capital Advisors LLC bought a new position in Lockheed Martin during the fourth quarter valued at about $35,000. Finally, Capital Performance Advisors LLP bought a new position in Lockheed Martin in the third quarter worth $40,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

The firm has a market capitalization of $107.52 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. The firm’s 50-day moving average price is $495.56 and its two-hundred day moving average price is $536.97. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Sell-side analysts predict that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Dividend Announcement

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

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.