Lockheed Martin (NYSE:LMT) Hits New 1-Year Low on Analyst Downgrade

Lockheed Martin Co. (NYSE:LMT) shares reached a new 52-week low during mid-day trading on Tuesday after Wells Fargo & Company lowered their price target on the stock from $476.00 to $432.00. Wells Fargo & Company currently has an equal weight rating on the stock. Lockheed Martin traded as low as $418.88 and last traded at $430.41, with a volume of 1968086 shares changing hands. The stock had previously closed at $432.15.

A number of other equities analysts have also issued reports on the company. Melius Research lowered Lockheed Martin from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 24th. Truist Financial started coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target on the stock. Bank of America lowered shares of Lockheed Martin from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $685.00 to $485.00 in a report on Monday, March 24th. Citigroup dropped 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 report on Tuesday, January 21st. Finally, Melius downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Lockheed Martin has a consensus rating of “Hold” and an average target price of $536.60.

Insiders Place Their Bets

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The transaction 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 that occurred 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 owns 2,278 shares of the company’s stock, 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 have sold 7,133 shares of company stock valued at $3,155,916 over the last three months. Company insiders own 0.17% of the company’s stock.

Institutional Investors Weigh In On Lockheed Martin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new stake in shares of Lockheed Martin in the 4th quarter worth $32,000. Mizuho Securities Co. Ltd. acquired a new position in Lockheed Martin during the fourth quarter worth about $34,000. Heck Capital Advisors LLC bought a new stake in Lockheed Martin in the fourth quarter worth about $35,000. Redwood Park Advisors LLC bought a new stake in Lockheed Martin in the fourth quarter worth about $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Lockheed Martin in the 4th quarter valued at about $42,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.5 %

The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The stock has a market capitalization of $107.90 billion, a P/E ratio of 20.66, a PEG ratio of 2.07 and a beta of 0.39. The stock’s fifty day moving average is $449.42 and its two-hundred day moving average is $502.21.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results 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 Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Monday, March 3rd were paid a dividend of $3.30 per share. The ex-dividend date was Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.87%. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

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.