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

Lockheed Martin Co. (NYSE:LMT) shares were down 0.2% on Thursday after StockNews.com downgraded the stock from a buy rating to a hold rating. The stock traded as low as $451.32 and last traded at $453.38. Approximately 492,251 shares traded hands during trading, a decline of 64% from the average daily volume of 1,370,057 shares. The stock had previously closed at $454.36.

Several other equities analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and decreased their target price for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. Barclays decreased their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada decreased their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. decreased their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Citigroup decreased their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $555.60.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds and other institutional investors have recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Lockheed Martin during the third quarter worth $26,000. Mattson Financial Services LLC acquired a new position in Lockheed Martin in the second quarter valued at about $27,000. Burkett Financial Services LLC acquired a new position in Lockheed Martin in the third quarter valued at about $32,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin in the fourth quarter valued at about $35,000. Finally, Capital Performance Advisors LLP acquired a new position in Lockheed Martin in the third quarter valued at about $40,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

The firm has a market cap of $108.88 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 3.78 and a beta of 0.48. The stock has a 50 day moving average of $493.89 and a 200 day moving average of $536.43. The company has a quick ratio of 1.12, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. As a group, analysts anticipate that Lockheed Martin Co. will post 27.09 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a $3.30 dividend. This represents a $13.20 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend 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.