Lockheed Martin (NYSE:LMT) Stock Rating Lowered by Royal Bank of Canada

Lockheed Martin (NYSE:LMT) was downgraded by stock analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. They currently have a $480.00 price objective on the aerospace company’s stock, down from their previous price objective of $550.00. Royal Bank of Canada’s target price suggests a potential upside of 7.89% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Citigroup dropped their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Truist Financial assumed coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. UBS Group cut their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Bank of America downgraded shares of Lockheed Martin from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $685.00 to $485.00 in a research report on Monday. Finally, Melius downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a report on Monday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $539.53.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $444.88 on Thursday. The firm has a 50 day simple moving average of $458.36 and a 200-day simple moving average of $512.16. Lockheed Martin has a 1-year low of $419.70 and a 1-year high of $618.95. The stock has a market cap of $104.72 billion, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95.

Lockheed Martin (NYSE:LMT) last posted 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 return on equity of 101.47% and a net margin of 7.51%. On average, analysts expect that Lockheed Martin will post 27.15 EPS for the current year.

Insiders Place Their Bets

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the 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 directly owns 2,000 shares in the company, valued at approximately $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. The trade was 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 worth $3,155,916 over the last three months. Company insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

Several institutional investors have recently bought and sold shares of the stock. Vinva Investment Management Ltd raised its stake in shares of Lockheed Martin by 3.0% during the third quarter. Vinva Investment Management Ltd now owns 656 shares of the aerospace company’s stock valued at $382,000 after acquiring an additional 19 shares in the last quarter. Widmann Financial Services Inc. raised its holdings in shares of Lockheed Martin by 2.1% during the third quarter. Widmann Financial Services Inc. now owns 968 shares of the aerospace company’s stock worth $566,000 after purchasing an additional 20 shares during the last quarter. CFS Investment Advisory Services LLC boosted its position in Lockheed Martin by 2.0% in the 4th quarter. CFS Investment Advisory Services LLC now owns 1,091 shares of the aerospace company’s stock worth $530,000 after purchasing an additional 21 shares in the last quarter. Wynn Capital LLC increased its stake in shares of Lockheed Martin by 1.0% in the 4th quarter. Wynn Capital LLC now owns 2,185 shares of the aerospace company’s stock valued at $1,062,000 after purchasing an additional 22 shares in the last quarter. Finally, PBMares Wealth Management LLC lifted its holdings in Lockheed Martin by 0.6% during the fourth quarter. PBMares Wealth Management LLC now owns 3,745 shares of the aerospace company’s stock valued at $1,820,000 after purchasing an additional 22 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

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.