Lockheed Martin (NYSE:LMT) Stock Rating Lowered by Bank of America

Bank of America lowered shares of Lockheed Martin (NYSE:LMT) from a buy rating to a neutral rating in a research report report published on Monday, Marketbeat Ratings reports. Bank of America currently has $485.00 target price on the aerospace company’s stock, down from their previous target price of $685.00.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company restated an “equal weight” rating on shares of Lockheed Martin in a report on Monday, March 10th. Barclays dropped their price target 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. Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price objective for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. Truist Financial began coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. Finally, StockNews.com downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $544.20.

Lockheed Martin Stock Down 1.1 %

NYSE:LMT opened at $434.72 on Monday. Lockheed Martin has a 52 week low of $419.70 and a 52 week high of $618.95. The stock’s fifty day moving average is $459.96 and its two-hundred day moving average is $513.50. The stock has a market capitalization of $102.33 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. Research analysts anticipate that Lockheed Martin will post 27.15 EPS for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s payout ratio is 59.30%.

Insider Activity at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the sale, the insider now owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Harry Edward Paul III sold 707 shares of the 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 in the company, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,133 shares of company stock valued at $3,155,916 over the last three months. 0.17% of the stock is owned by corporate insiders.

Institutional Trading of Lockheed Martin

Hedge funds and other institutional investors have recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in Lockheed Martin during the 3rd quarter worth approximately $26,000. Millstone Evans Group LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter valued at approximately $32,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Lockheed Martin in the fourth quarter valued at approximately $34,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin during the fourth quarter worth approximately $35,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at $42,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

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.