Lockheed Martin (NYSE:LMT) Stock Price Down 0.2% on Analyst Downgrade

Lockheed Martin Co. (NYSE:LMT) shares fell 0.2% on Wednesday after Susquehanna lowered their price target on the stock from $705.00 to $695.00. Susquehanna currently has a positive rating on the stock. Lockheed Martin traded as low as $575.86 and last traded at $575.86. 256,823 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 1,049,084 shares. The stock had previously closed at $576.98.

Several other research firms have also issued reports on LMT. Wells Fargo & Company upped their price target on shares of Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. UBS Group raised their price target on Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Citigroup lifted their price target on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Robert W. Baird increased their price objective on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday. Finally, Bank of America reaffirmed a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $599.21.

Institutional Investors Weigh In On Lockheed Martin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stokes Family Office LLC purchased a new position in Lockheed Martin during the 1st quarter valued at about $425,000. Gateway Investment Advisers LLC boosted its position in shares of Lockheed Martin by 4.9% in the 1st quarter. Gateway Investment Advisers LLC now owns 5,446 shares of the aerospace company’s stock worth $2,477,000 after purchasing an additional 256 shares in the last quarter. Annex Advisory Services LLC purchased a new stake in shares of Lockheed Martin in the 1st quarter worth approximately $220,000. Columbus Macro LLC grew its stake in shares of Lockheed Martin by 18.8% in the 1st quarter. Columbus Macro LLC now owns 2,023 shares of the aerospace company’s stock worth $922,000 after buying an additional 320 shares during the last quarter. Finally, Thompson Investment Management Inc. purchased a new position in Lockheed Martin during the first quarter valued at $38,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 0.4 %

The firm has a market capitalization of $137.91 billion, a P/E ratio of 21.07, a P/E/G ratio of 4.84 and a beta of 0.47. The company has a fifty day simple moving average of $579.79 and a 200 day simple moving average of $513.10. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. Lockheed Martin’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.77 EPS. On average, equities analysts expect that Lockheed Martin Co. will post 26.68 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.30%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is 48.30%.

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.