Lockheed Martin (NYSE:LMT) Stock Price Down 0.9% Following Analyst Downgrade

Lockheed Martin Co. (NYSE:LMT)’s stock price traded down 0.9% during trading on Wednesday after Susquehanna lowered their price target on the stock from $590.00 to $550.00. Susquehanna currently has a positive rating on the stock. Lockheed Martin traded as low as $453.37 and last traded at $453.52. 583,477 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 1,319,499 shares. The stock had previously closed at $457.45.

Other equities research analysts have also issued reports about the stock. Barclays dropped their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Truist Financial began coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. Robert W. Baird raised their price target on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and reduced their target price for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Finally, Citigroup lowered their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus price target of $568.73.

Institutional Trading of Lockheed Martin

Several hedge funds and other institutional investors have recently made changes to their positions in LMT. Itau Unibanco Holding S.A. acquired a new stake in Lockheed Martin in the third quarter valued at $26,000. Mattson Financial Services LLC bought a new position in shares of Lockheed Martin during the 2nd quarter worth approximately $27,000. Burkett Financial Services LLC acquired a new position in shares of Lockheed Martin during the 3rd quarter valued at $32,000. Heck Capital Advisors LLC acquired a new stake in Lockheed Martin in the fourth quarter worth $35,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Lockheed Martin during the 3rd quarter worth about $40,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Price Performance

The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The business has a 50-day moving average of $497.18 and a 200 day moving average of $537.55. The firm has a market capitalization of $107.23 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48.

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

Lockheed Martin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.92%. Lockheed Martin’s payout ratio is 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.