Lockheed Martin (NYSE:LMT) Trading Down 0.7% Following Analyst Downgrade

Lockheed Martin Co. (NYSE:LMT - Get Free Report)'s share price was down 0.7% on Wednesday after Wells Fargo & Company lowered their price target on the stock from $497.00 to $468.00. Wells Fargo & Company currently has an equal weight rating on the stock. Lockheed Martin traded as low as $441.75 and last traded at $445.54. Approximately 277,217 shares were traded during trading, a decline of 82% from the average daily volume of 1,548,931 shares. The stock had previously closed at $448.46.

Several other research analysts have also weighed in on LMT. Truist Financial started coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They set a "buy" rating and a $579.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. UBS Group dropped their target price on shares of Lockheed Martin from $527.00 to $508.00 and set a "neutral" rating on the stock in a report on Wednesday, January 29th. Royal Bank of Canada dropped their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an "outperform" rating on the stock in a report on Wednesday, January 29th. Finally, Susquehanna dropped their target price on shares of Lockheed Martin from $590.00 to $550.00 and set a "positive" rating on the stock in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin currently has an average rating of "Moderate Buy" and an average price target of $553.67.

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 firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the transaction, the vice president now directly owns 2,278 shares of the company's stock, valued at $1,008,265.58. This represents a 23.69 % 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 ninety days. Insiders own 0.17% of the company's stock.

Hedge Funds Weigh In On Lockheed Martin

Several hedge funds and other institutional investors have recently made changes to their positions in LMT. Proficio Capital Partners LLC grew its stake in shares of Lockheed Martin by 53,784.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company's stock valued at $600,412,000 after buying an additional 1,233,275 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Lockheed Martin by 17.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company's stock worth $3,630,492,000 after purchasing an additional 1,132,461 shares during the period. Castlekeep Investment Advisors LLC bought a new position in Lockheed Martin during the fourth quarter worth $526,587,000. Leigh Baldwin & CO. LLC bought a new position in Lockheed Martin during the fourth quarter worth $451,985,000. Finally, Van ECK Associates Corp boosted its position in Lockheed Martin by 1,239.6% during the fourth quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company's stock worth $266,410,000 after purchasing an additional 507,312 shares during the period. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Performance

The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The stock's 50-day simple moving average is $465.79 and its 200 day simple moving average is $525.10. The stock has a market capitalization of $105.97 billion, a P/E ratio of 20.22, a PEG ratio of 2.07 and a beta of 0.48.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, topping analysts' consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Research analysts expect that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Monday, March 3rd will be given a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.93%. Lockheed Martin's payout ratio is presently 59.30%.

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.