Lockheed Martin (NYSE:LMT) Shares Down 0.7% – Time to Sell?

Lockheed Martin Co. (NYSE:LMT) shares dropped 0.7% during trading on Wednesday . The stock traded as low as $480.42 and last traded at $481.07. Approximately 217,769 shares traded hands during trading, a decline of 80% from the average daily volume of 1,072,015 shares. The stock had previously closed at $484.46.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Royal Bank of Canada lowered their target price on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Truist Financial initiated coverage on shares of Lockheed Martin in a research note on Tuesday. They issued a “buy” rating and a $579.00 price objective for the company. JPMorgan Chase & Co. cut their target price on shares of Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price target for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company cut 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 report on Wednesday, January 8th. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $584.40.

Lockheed Martin Price Performance

The stock has a 50-day moving average price of $506.28 and a two-hundred day moving average price of $534.89. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The stock has a market cap of $116.29 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 3.76 and a beta of 0.48.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at $26,000. Mattson Financial Services LLC purchased a new stake in Lockheed Martin during the 2nd quarter valued at about $27,000. Burkett Financial Services LLC acquired a new position in shares of Lockheed Martin in the third quarter valued at about $32,000. Capital Performance Advisors LLP purchased a new position in shares of Lockheed Martin in the third quarter worth about $40,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Lockheed Martin in the third quarter worth about $42,000. 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.