Lockheed Martin (NYSE:LMT) Price Target Cut to $535.00 by Analysts at JPMorgan Chase & Co.

Lockheed Martin (NYSE:LMT) had its price objective lowered by JPMorgan Chase & Co. from $540.00 to $535.00 in a report released on Thursday,Benzinga reports. The firm currently has an overweight rating on the aerospace company’s stock.

LMT has been the topic of a number of other reports. Robert W. Baird increased their target price on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. TD Cowen increased their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and cut their price target for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. Finally, Morgan Stanley lowered their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $555.60.

Lockheed Martin Stock Up 1.0 %

NYSE:LMT opened at $459.12 on Thursday. Lockheed Martin has a 1-year low of $413.92 and a 1-year high of $618.95. The company has a market capitalization of $108.07 billion, a PE ratio of 20.63, a P/E/G ratio of 3.78 and a beta of 0.48. The firm’s 50-day moving average price is $495.56 and its 200-day moving average price is $536.97. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 1.12.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating 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%. On average, equities analysts predict that Lockheed Martin will post 27.09 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is currently 59.30%.

Hedge Funds Weigh In On Lockheed Martin

Large investors have recently made changes to their positions in the business. Itau Unibanco Holding S.A. bought a new position in shares of Lockheed Martin during the 3rd quarter valued at about $26,000. Mattson Financial Services LLC bought a new stake in shares of Lockheed Martin in the second quarter worth about $27,000. Burkett Financial Services LLC purchased a new stake in shares of Lockheed Martin in the third quarter worth about $32,000. Heck Capital Advisors LLC bought a new position in Lockheed Martin during the fourth quarter valued at approximately $35,000. Finally, Capital Performance Advisors LLP purchased a new position in Lockheed Martin during the 3rd quarter valued at approximately $40,000. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

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.