Lockheed Martin (NYSE:LMT) Shares Gap Down – Here’s What Happened

Lockheed Martin Co. (NYSE:LMT) gapped down before the market opened on Tuesday . The stock had previously closed at $503.69, but opened at $473.70. Lockheed Martin shares last traded at $463.21, with a volume of 498,951 shares.

Analyst Ratings Changes

LMT has been the topic of several analyst reports. Susquehanna reduced their price objective on shares of Lockheed Martin from $695.00 to $590.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Wells Fargo & Company reduced their price objective on shares of Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Barclays reduced 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. Citigroup reduced their price objective on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Finally, StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $577.73.

Lockheed Martin Stock Down 7.4 %

The firm’s fifty day moving average price is $498.68 and its two-hundred day moving average price is $537.59. The stock has a market cap of $110.54 billion, a price-to-earnings ratio of 16.88, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12.

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 9.36% and a return on equity of 101.44%. Sell-side analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lockheed Martin

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of Lockheed Martin by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock worth $2,816,898,000 after acquiring an additional 83,997 shares during the last quarter. FMR LLC grew its position in Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after purchasing an additional 209,591 shares in the last quarter. Wellington Management Group LLP grew its position in Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after purchasing an additional 240,306 shares in the last quarter. International Assets Investment Management LLC grew its position in Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after purchasing an additional 1,556,609 shares in the last quarter. Finally, Bank of Montreal Can grew its position in Lockheed Martin by 2.1% in the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after purchasing an additional 13,253 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

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.