Susquehanna Cuts Lockheed Martin (NYSE:LMT) Price Target to $550.00

Lockheed Martin (NYSE:LMT) had its price objective cut by Susquehanna from $590.00 to $550.00 in a report published on Wednesday morning,Benzinga reports. They currently have a positive rating on the aerospace company’s stock.

Several other research analysts have also commented on LMT. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. Citigroup decreased their price target 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 started coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective on the stock. Robert W. Baird boosted their target price on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company reduced their price target on Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Lockheed Martin has a consensus rating of “Moderate Buy” and an average target price of $555.60.

Lockheed Martin Stock Up 0.6 %

Lockheed Martin stock opened at $462.53 on Wednesday. The company has a market capitalization of $108.88 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 3.78 and a beta of 0.48. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.12 and a current ratio of 1.13. Lockheed Martin has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The firm has a 50 day moving average price of $493.89 and a 200 day moving average price of $536.43.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating 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%. Research analysts expect that Lockheed Martin will post 27.09 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The business also recently declared 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 is Monday, March 3rd. This represents a $13.20 annualized dividend and a yield of 2.85%. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Hedge Funds Weigh In On Lockheed Martin

Several hedge funds have recently made changes to their positions in the company. Algert Global LLC purchased a new position in shares of Lockheed Martin during the second quarter worth approximately $277,000. Regal Investment Advisors LLC boosted its stake in Lockheed Martin by 103.9% during the 2nd quarter. Regal Investment Advisors LLC now owns 2,235 shares of the aerospace company’s stock worth $1,044,000 after purchasing an additional 1,139 shares during the period. New Century Financial Group LLC grew its position in Lockheed Martin by 179.6% during the 2nd quarter. New Century Financial Group LLC now owns 1,258 shares of the aerospace company’s stock worth $588,000 after purchasing an additional 808 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Lockheed Martin in the second quarter valued at $201,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Lockheed Martin in the second quarter valued at about $24,001,000. Hedge funds and other 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.