Lockheed Martin (NYSE:LMT) Trading Down 1.9% on Analyst Downgrade

Shares of Lockheed Martin Co. (NYSE:LMT) fell 1.9% during mid-day trading on Monday after Barclays lowered their price target on the stock from $565.00 to $515.00. Barclays currently has an equal weight rating on the stock. Lockheed Martin traded as low as $472.10 and last traded at $472.75. 400,510 shares were traded during mid-day trading, a decline of 42% from the average session volume of 692,487 shares. The stock had previously closed at $481.82.

Other analysts also recently issued reports about the stock. Susquehanna lowered their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. TD Cowen increased their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price target on Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Royal Bank of Canada lowered their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, Robert W. Baird boosted their price objective on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $601.79.

Institutional Trading of Lockheed Martin

Large investors have recently modified their holdings of the stock. CVA Family Office LLC grew its stake in Lockheed Martin by 1.1% during the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after purchasing an additional 17 shares in the last quarter. AllGen Financial Advisors Inc. grew its position in shares of Lockheed Martin by 4.0% during the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock worth $274,000 after buying an additional 18 shares in the last quarter. Salomon & Ludwin LLC increased its stake in shares of Lockheed Martin by 20.5% during the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock worth $62,000 after buying an additional 18 shares during the period. Sunburst Financial Group LLC raised its holdings in Lockheed Martin by 3.3% in the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after acquiring an additional 18 shares in the last quarter. Finally, Quad Cities Investment Group LLC lifted its stake in Lockheed Martin by 1.2% in the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after acquiring an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 3.1 %

The firm’s fifty day simple moving average is $517.70 and its 200 day simple moving average is $535.38. 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 $110.61 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 4.05 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last issued 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 firm had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the previous year, the firm posted $6.77 earnings per share. The company’s revenue was up 1.3% compared to the same quarter last year. Sell-side analysts predict that Lockheed Martin Co. will post 26.88 earnings per share for the current 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.