Lockheed Martin (NYSE:LMT) Stock Price Down 1.5% After Analyst Downgrade

Lockheed Martin Co. (NYSE:LMT - Get Free Report) shares traded down 1.5% during trading on Wednesday after Citigroup lowered their price target on the stock from $700.00 to $600.00. Citigroup currently has a buy rating on the stock. Lockheed Martin traded as low as $495.18 and last traded at $498.77. 264,880 shares traded hands during trading, a decline of 76% from the average session volume of 1,115,190 shares. The stock had previously closed at $506.29.

Other research analysts have also issued reports about the company. Truist Financial began coverage on Lockheed Martin in a report on Tuesday, January 14th. They set a "buy" rating and a $579.00 target price on the stock. TD Cowen lifted their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price target on shares of Lockheed Martin from $546.00 to $540.00 and set an "overweight" rating on the stock in a research report on Thursday, January 16th. StockNews.com cut Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 3rd. Finally, Wells Fargo & Company dropped their target price on shares of 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 equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $577.73.

Hedge Funds Weigh In On Lockheed Martin

Hedge funds have recently bought and sold shares of the business. Itau Unibanco Holding S.A. acquired a new position in shares of Lockheed Martin during the 3rd quarter valued at about $26,000. Mattson Financial Services LLC acquired a new position in Lockheed Martin during the second quarter valued at approximately $27,000. Burkett Financial Services LLC acquired a new position in Lockheed Martin during the third quarter valued at approximately $32,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin in the 4th quarter valued at $35,000. Finally, Capital Performance Advisors LLP acquired a new position in Lockheed Martin in the 3rd quarter valued at $40,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Down 0.5 %

The firm has a market capitalization of $117.79 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 4.11 and a beta of 0.48. The business's 50 day moving average is $500.84 and its 200-day moving average is $536.25. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. Lockheed Martin's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company posted $6.77 earnings per share. Equities analysts anticipate that Lockheed Martin Co. will post 26.81 EPS for the current fiscal year.

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.