Melius Downgrades Lockheed Martin (NYSE:LMT) to Hold

Lockheed Martin (NYSE:LMT) was downgraded by research analysts at Melius from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, Marketbeat Ratings reports.

Other equities research analysts have also recently issued research reports about the company. Citigroup reduced their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Susquehanna reduced their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Barclays dropped their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Finally, Royal Bank of Canada decreased their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Lockheed Martin currently has an average rating of “Hold” and a consensus price target of $544.20.

Lockheed Martin Stock Down 5.7 %

Lockheed Martin stock opened at $440.26 on Monday. The company has a market capitalization of $103.63 billion, a PE ratio of 19.78, a PEG ratio of 2.07 and a beta of 0.43. Lockheed Martin has a 12-month low of $419.70 and a 12-month high of $618.95. The firm’s fifty day moving average is $460.94 and its 200 day moving average is $514.45. 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 announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts predict that Lockheed Martin will post 27.15 EPS for the current fiscal year.

Insider Transactions at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of the company’s 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 sale, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at approximately $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lockheed Martin

Several institutional investors have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. bought a new stake in shares of Lockheed Martin during the 3rd quarter valued at $26,000. Millstone Evans Group LLC purchased a new position in Lockheed Martin during the 4th quarter valued at about $32,000. Mizuho Securities Co. Ltd. purchased a new position in Lockheed Martin during the 4th quarter valued at about $34,000. Heck Capital Advisors LLC bought a new stake in shares of Lockheed Martin during the fourth quarter valued at about $35,000. Finally, Redwood Park Advisors LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

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.