Lockheed Martin (NYSE:LMT) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Lockheed Martin (NYSE:LMT) from a buy rating to a hold rating in a research report released on Friday.

A number of other research firms also recently commented on LMT. Royal Bank of Canada cut their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research report on Wednesday. Truist Financial assumed coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price objective for the company. Barclays dropped their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company reduced their price target on shares of Lockheed Martin from $500.00 to $497.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, Morgan Stanley dropped their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and a consensus price target of $555.60.

Lockheed Martin Stock Up 0.6 %

Lockheed Martin stock opened at $462.53 on Friday. Lockheed Martin has a 12 month low of $413.92 and a 12 month high of $618.95. The stock has a fifty day simple moving average of $492.29 and a two-hundred day simple moving average of $536.42. The company has a current ratio of 1.13, a quick ratio of 1.12 and a debt-to-equity ratio of 3.10. The firm has a market cap of $108.88 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 3.78 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Equities analysts predict that Lockheed Martin will post 27.09 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.85%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Hedge Funds Weigh In On Lockheed Martin

Several institutional investors have recently bought and sold shares of the business. Virtue Capital Management LLC raised its position in Lockheed Martin by 112.8% during the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after purchasing an additional 1,192 shares during the period. Bank of Montreal Can raised its holdings in Lockheed Martin by 2.1% during the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after buying an additional 13,253 shares during the period. Hilltop Holdings Inc. lifted its position in Lockheed Martin by 79.9% in the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after buying an additional 5,361 shares during the last quarter. Capital Investment Advisors LLC boosted its stake in Lockheed Martin by 2.2% during the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock worth $44,770,000 after buying an additional 2,011 shares during the period. Finally, Old West Investment Management LLC boosted its stake in Lockheed Martin by 6.6% during the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after buying an additional 1,643 shares during the period. Institutional investors own 74.19% of the company’s stock.

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.