Lockheed Martin (NYSE:LMT) Downgraded to “Hold” Rating by Melius Research

Lockheed Martin (NYSE:LMT) was downgraded by research analysts at Melius Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada lowered their price objective on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Truist Financial initiated coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target on the stock. StockNews.com raised shares of Lockheed Martin from a “hold” rating to a “buy” rating in a report on Monday. Susquehanna lowered their price objective on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Lockheed Martin in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of “Hold” and an average price target of $544.20.

Lockheed Martin Price Performance

Shares of LMT opened at $442.63 on Monday. The firm has a market capitalization of $104.19 billion, a PE ratio of 19.88, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin has a twelve month low of $419.70 and a twelve month high of $618.95. The stock’s 50 day moving average is $459.13 and its two-hundred day moving average is $512.63. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

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 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%. Research analysts anticipate that Lockheed Martin will post 27.15 earnings per share for the current year.

Insiders Place Their Bets

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the transaction, the vice president now owns 2,278 shares of the company’s stock, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the transaction, the insider now owns 2,000 shares in the company, valued at approximately $884,840. This represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock worth $3,155,916 over the last 90 days. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of Lockheed Martin

Institutional investors have recently modified their holdings of the company. Larson Financial Group LLC increased its position in Lockheed Martin by 42.9% during the third quarter. Larson Financial Group LLC now owns 630 shares of the aerospace company’s stock worth $368,000 after buying an additional 189 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Lockheed Martin by 0.9% in the 3rd quarter. Fisher Asset Management LLC now owns 6,742 shares of the aerospace company’s stock valued at $3,941,000 after buying an additional 61 shares during the period. Patton Albertson Miller Group LLC acquired a new stake in shares of Lockheed Martin in the 3rd quarter valued at $205,000. FMR LLC raised its stake in Lockheed Martin by 6.6% during the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after acquiring an additional 209,591 shares in the last quarter. Finally, Avestar Capital LLC lifted its holdings in shares of Lockheed Martin by 5.2% in the third quarter. Avestar Capital LLC now owns 1,248 shares of the aerospace company’s stock worth $730,000 after acquiring an additional 62 shares during the last quarter. 74.19% of the stock is currently owned by 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.