Lockheed Martin (NYSE:LMT) Stock Price Down 0.1% on Analyst Downgrade

Shares of Lockheed Martin Co. (NYSE:LMT) were down 0.1% on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $546.00 to $540.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Lockheed Martin traded as low as $481.50 and last traded at $483.38. Approximately 130,529 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 1,046,931 shares. The stock had previously closed at $483.97.

LMT has been the subject of several other research reports. Royal Bank of Canada reduced their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Truist Financial began coverage on Lockheed Martin in a research report on Tuesday. They set a “buy” rating and a $579.00 price objective for the company. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. UBS Group increased their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird raised their price objective on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $584.40.

Institutional Trading of Lockheed Martin

A number of institutional investors have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. purchased a new position in shares of Lockheed Martin in the third quarter worth $26,000. Burkett Financial Services LLC purchased a new position in shares of Lockheed Martin in the 3rd quarter worth approximately $32,000. Mattson Financial Services LLC purchased a new stake in Lockheed Martin during the 2nd quarter worth approximately $27,000. Capital Performance Advisors LLP purchased a new stake in shares of Lockheed Martin during the third quarter worth $40,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Lockheed Martin in the third quarter valued at $42,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

The stock’s fifty day moving average is $508.95 and its 200-day moving average is $535.59. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The stock has a market cap of $114.52 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 3.76 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Lockheed Martin’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.77 earnings per share. On average, analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current year.

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.