Lockheed Martin (NYSE:LMT) Cut to Hold at Melius

Melius cut shares of Lockheed Martin (NYSE:LMT) from a buy rating to a hold rating in a report released on Monday, Marketbeat Ratings reports.

LMT has been the subject of several other research reports. Susquehanna decreased their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, January 29th. Barclays lowered their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Morgan Stanley cut their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. StockNews.com cut Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and cut their price target for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $544.20.

Lockheed Martin Price Performance

Shares of LMT opened at $444.88 on Monday. The stock has a market cap of $104.72 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. Lockheed Martin has a 1 year low of $419.70 and a 1 year high of $618.95. The stock’s 50-day moving average price is $458.36 and its two-hundred day moving average price is $512.16. 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 released its quarterly earnings data 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 net margin of 7.51% and a return on equity of 101.47%. On average, equities analysts predict that Lockheed Martin will post 27.15 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.97%. Lockheed Martin’s dividend payout ratio is 59.30%.

Insider Activity

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now 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 in the last quarter. Corporate insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds and other institutional investors have recently bought and sold shares of LMT. Virtue Capital Management LLC lifted its position in shares of Lockheed Martin by 112.8% in the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after buying an additional 1,192 shares during the last quarter. Bank of Montreal Can lifted 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 purchasing an additional 13,253 shares during the last quarter. Hilltop Holdings Inc. boosted its position in Lockheed Martin by 79.9% during the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after purchasing an additional 5,361 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in shares of Lockheed Martin by 51.7% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock valued at $4,630,000 after purchasing an additional 3,247 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its position in shares of Lockheed Martin by 2.2% in the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after purchasing an additional 2,011 shares during the period. Institutional investors own 74.19% of the company’s stock.

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.