Lockheed Martin (NYSE:LMT) Downgraded to Buy at StockNews.com

StockNews.com lowered shares of Lockheed Martin (NYSE:LMT) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday.

Several other research analysts have also commented on the stock. Wells Fargo & Company upped their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an equal weight rating in a report on Wednesday, July 24th. Susquehanna raised their price objective on shares of Lockheed Martin from $540.00 to $565.00 and gave the stock a positive rating in a report on Wednesday, July 24th. Melius Research upgraded Lockheed Martin to a strong-buy rating in a report on Tuesday, September 3rd. Melius raised Lockheed Martin from a hold rating to a buy rating and set a $704.00 target price for the company in a research report on Tuesday, September 3rd. Finally, UBS Group upped their price target on Lockheed Martin from $511.00 to $538.00 and gave the stock a neutral rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $562.54.

Lockheed Martin Trading Down 0.1 %

Shares of LMT opened at $605.13 on Wednesday. The firm has a fifty day simple moving average of $565.71 and a two-hundred day simple moving average of $499.64. Lockheed Martin has a twelve month low of $393.77 and a twelve month high of $611.49. The stock has a market capitalization of $145.19 billion, a P/E ratio of 22.14, a PEG ratio of 4.66 and a beta of 0.47. The company has a quick ratio of 1.07, a current ratio of 1.24 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. Lockheed Martin’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm earned $6.73 earnings per share. On average, research analysts anticipate that Lockheed Martin will post 26.65 EPS for the current year.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.30 per share. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.18%. Lockheed Martin’s dividend payout ratio is presently 46.10%.

Insider Buying and Selling

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the sale, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lockheed Martin

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wulff Hansen & CO. raised its stake in Lockheed Martin by 56,626.7% during the 2nd quarter. Wulff Hansen & CO. now owns 1,021,081 shares of the aerospace company’s stock valued at $476,947,000 after buying an additional 1,019,281 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Lockheed Martin by 1,075.2% in the first quarter. Van ECK Associates Corp now owns 481,106 shares of the aerospace company’s stock valued at $218,841,000 after acquiring an additional 440,169 shares during the period. Confluence Investment Management LLC purchased a new position in Lockheed Martin in the first quarter worth about $151,402,000. Capital Research Global Investors grew its stake in shares of Lockheed Martin by 29.7% during the 1st quarter. Capital Research Global Investors now owns 953,285 shares of the aerospace company’s stock valued at $433,621,000 after purchasing an additional 218,506 shares during the period. Finally, National Bank of Canada FI increased its position in shares of Lockheed Martin by 219.3% during the 1st quarter. National Bank of Canada FI now owns 318,107 shares of the aerospace company’s stock valued at $149,138,000 after purchasing an additional 218,466 shares during the last quarter. 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.