Lockheed Martin (NYSE:LMT) Shares Down 1.5% Following Analyst Downgrade

Lockheed Martin Co. (NYSE:LMT)’s stock price fell 1.5% 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 changed 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 equities research analysts also recently issued research reports about the stock. Robert W. Baird increased their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. reduced their price objective 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. Truist Financial began coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price for the company. Barclays reduced their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Finally, UBS Group boosted their price objective on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $577.73.

Institutional Trading of Lockheed Martin

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in shares of Lockheed Martin by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock valued at $2,816,898,000 after purchasing an additional 83,997 shares in the last quarter. FMR LLC raised its stake in Lockheed Martin by 6.6% in the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after buying an additional 209,591 shares in the last quarter. Wellington Management Group LLP raised its stake in Lockheed Martin by 8.5% in the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after buying an additional 240,306 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Lockheed Martin by 1.7% during the second quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after buying an additional 31,545 shares during the period. Finally, International Assets Investment Management LLC boosted its position in Lockheed Martin by 60,592.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after acquiring an additional 1,556,609 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The firm has a market capitalization of $118.38 billion, a PE ratio of 18.08, a P/E/G ratio of 3.96 and a beta of 0.48. The stock has a fifty day moving average price of $502.01 and a 200-day moving average price of $536.51.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the previous year, the company posted $6.77 earnings per share. The firm’s revenue was up 1.3% on a year-over-year basis. Sell-side analysts forecast that Lockheed Martin Co. will post 26.8 EPS for the current fiscal year.

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.