Lockheed Martin (NYSE:LMT) Shares Down 3.9% After Analyst Downgrade

Lockheed Martin Corporation (NYSE:LMT)’s stock price traded down 3.9% during trading on Wednesday after DZ Bank downgraded the stock from a buy rating to a hold rating. DZ Bank now has a $665.00 price target on the stock. Lockheed Martin traded as low as $596.23 and last traded at $603.61. 2,624,107 shares traded hands during trading, an increase of 16% from the average session volume of 2,263,005 shares. The stock had previously closed at $628.26.

Several other equities research analysts have also recently weighed in on LMT. Deutsche Bank Aktiengesellschaft increased their price target on Lockheed Martin from $492.00 to $611.00 and gave the company a “hold” rating in a research note on Friday, January 30th. UBS Group raised their price target on shares of Lockheed Martin from $580.00 to $663.00 and gave the stock a “neutral” rating in a report on Monday. Wall Street Zen upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Saturday. JPMorgan Chase & Co. boosted their target price on shares of Lockheed Martin from $515.00 to $680.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Finally, Citigroup increased their price target on Lockheed Martin from $505.00 to $592.00 and gave the stock a “neutral” rating in a report on Tuesday, January 13th. Five investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of “Hold” and a consensus price target of $604.22.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors have recently modified their holdings of the company. Cerro Pacific Wealth Advisors LLC grew its holdings in shares of Lockheed Martin by 1.2% during the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 1,376 shares of the aerospace company’s stock valued at $665,000 after buying an additional 16 shares during the last quarter. Garner Asset Management Corp lifted its position in Lockheed Martin by 0.9% in the 4th quarter. Garner Asset Management Corp now owns 1,735 shares of the aerospace company’s stock valued at $839,000 after acquiring an additional 16 shares in the last quarter. Broadway Wealth Solutions Inc. increased its holdings in Lockheed Martin by 3.6% during the 4th quarter. Broadway Wealth Solutions Inc. now owns 484 shares of the aerospace company’s stock worth $234,000 after purchasing an additional 17 shares in the last quarter. Newbridge Financial Services Group Inc. raised its stake in shares of Lockheed Martin by 3.2% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 583 shares of the aerospace company’s stock worth $282,000 after purchasing an additional 18 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. raised its stake in shares of Lockheed Martin by 2.0% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 985 shares of the aerospace company’s stock worth $476,000 after purchasing an additional 19 shares during the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

The company has a market cap of $138.88 billion, a PE ratio of 28.09, a PEG ratio of 1.80 and a beta of 0.23. The company has a quick ratio of 0.94, a current ratio of 1.09 and a debt-to-equity ratio of 3.05. The company has a 50-day moving average of $516.90 and a 200-day moving average of $483.27.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Thursday, January 29th. The aerospace company reported $5.80 earnings per share for the quarter, missing the consensus estimate of $6.33 by ($0.53). Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. The company had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.84 billion. During the same quarter last year, the business posted $7.67 earnings per share. Lockheed Martin’s revenue was up 9.1% on a year-over-year basis. As a group, analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Lockheed Martin Company Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.