Lockheed Martin (NYSE:LMT) Trading Down 0.9% After Analyst Downgrade

Lockheed Martin Co. (NYSE:LMT - Get Free Report) traded down 0.9% during mid-day trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $540.00 to $535.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Lockheed Martin traded as low as $453.37 and last traded at $453.52. 583,477 shares traded hands during trading, a decline of 56% from the average session volume of 1,319,499 shares. The stock had previously closed at $457.45.

Other analysts also recently issued reports about the stock. Wells Fargo & Company cut their price objective 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. Susquehanna decreased 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. Truist Financial began coverage on Lockheed Martin in a research note on Tuesday, January 14th. They set a "buy" rating and a $579.00 target price on the stock. Royal Bank of Canada decreased their price target on Lockheed Martin from $570.00 to $550.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, TD Cowen lifted their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $555.80.

Institutional Investors Weigh In On Lockheed Martin

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Algert Global LLC purchased a new stake in shares of Lockheed Martin in the second quarter valued at $277,000. Regal Investment Advisors LLC raised its position in Lockheed Martin by 103.9% during the second quarter. Regal Investment Advisors LLC now owns 2,235 shares of the aerospace company's stock valued at $1,044,000 after buying an additional 1,139 shares during the period. New Century Financial Group LLC lifted its stake in Lockheed Martin by 179.6% in the 2nd quarter. New Century Financial Group LLC now owns 1,258 shares of the aerospace company's stock worth $588,000 after acquiring an additional 808 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Lockheed Martin during the 2nd quarter worth about $201,000. Finally, Sanctuary Advisors LLC purchased a new position in Lockheed Martin during the 2nd quarter valued at about $24,001,000. Institutional investors and hedge funds own 74.19% of the company's stock.

Lockheed Martin Stock Up 1.0 %

The business has a fifty day moving average price of $495.56 and a two-hundred day moving average price of $536.97. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The company has a market cap of $108.83 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 4.05 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 earnings per share for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. On average, equities analysts predict that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Lockheed Martin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be paid a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.88%. Lockheed Martin's dividend payout ratio (DPR) is currently 47.79%.

Lockheed Martin Company Profile

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.