Lockheed Martin (NYSE:LMT) Rating Lowered to “Sector Perform” at Royal Bank of Canada

Lockheed Martin (NYSE:LMT) was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note issued on Thursday, MarketBeat reports. They currently have a $480.00 price target on the aerospace company’s stock, down from their prior price target of $550.00. Royal Bank of Canada’s price objective points to a potential upside of 8.74% from the stock’s previous close.

A number of other research analysts have also weighed in on LMT. Melius Research lowered Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Bank of America cut Lockheed Martin from a “buy” rating to a “neutral” rating and cut their price target for the company from $685.00 to $485.00 in a report on Monday, March 24th. UBS Group decreased their price objective on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a report on Wednesday, January 29th. StockNews.com raised shares of Lockheed Martin from a “hold” rating to a “buy” rating in a report on Monday, March 24th. Finally, Morgan Stanley reduced their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $539.53.

Lockheed Martin Trading Down 0.2 %

Lockheed Martin stock opened at $441.41 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. Lockheed Martin has a 12-month low of $419.70 and a 12-month high of $618.95. The firm has a market capitalization of $103.90 billion, a price-to-earnings ratio of 19.83, a P/E/G ratio of 2.07 and a beta of 0.43. The firm has a 50 day moving average of $456.49 and a 200 day moving average of $510.73.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, research analysts predict that Lockheed Martin will post 27.15 earnings per share for the current year.

Insider Buying and Selling at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the sale, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. This represents a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,133 shares of company stock valued at $3,155,916. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

Several institutional investors have recently bought and sold shares of LMT. Charles Schwab Investment Management Inc. increased its stake in Lockheed Martin by 17.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after purchasing an additional 1,132,461 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Lockheed Martin by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock valued at $2,374,557,000 after buying an additional 59,597 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Lockheed Martin by 8.5% during the 3rd 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 during the last quarter. Northern Trust Corp boosted its position in shares of Lockheed Martin by 6.3% in the 4th quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company’s stock worth $1,098,667,000 after buying an additional 134,662 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Lockheed Martin by 17.5% in the 4th quarter. Invesco Ltd. now owns 2,131,928 shares of the aerospace company’s stock valued at $1,035,989,000 after acquiring an additional 318,007 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

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.