Lockheed Martin (NYSE:LMT) Cut to Hold at DZ Bank

DZ Bank cut shares of Lockheed Martin (NYSE:LMT) from a buy rating to a hold rating in a research report report published on Tuesday, Marketbeat Ratings reports. The brokerage currently has $665.00 price target on the aerospace company’s stock.

A number of other equities analysts have also issued reports on LMT. Weiss Ratings restated a “hold (c)” rating on shares of Lockheed Martin in a research note on Wednesday, October 8th. Morgan Stanley restated an “equal weight” rating and set a $543.00 price objective (down from $630.00) on shares of Lockheed Martin in a research note on Tuesday, December 16th. Citigroup upped their target price on Lockheed Martin from $505.00 to $592.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 13th. JPMorgan Chase & Co. increased their price target on shares of Lockheed Martin from $515.00 to $680.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Finally, Susquehanna reiterated a “positive” rating and set a $660.00 price target on shares of Lockheed Martin in a research report on Thursday, January 15th. Five research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $608.72.

Lockheed Martin Price Performance

Shares of LMT stock opened at $607.54 on Tuesday. Lockheed Martin has a fifty-two week low of $410.11 and a fifty-two week high of $646.59. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.94 and a current ratio of 1.09. The firm has a market capitalization of $139.78 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 1.37 and a beta of 0.23. The stock’s 50-day simple moving average is $522.92 and its 200-day simple moving average is $484.97.

Lockheed Martin (NYSE:LMT) last released its earnings results on Thursday, January 29th. The aerospace company reported $5.80 EPS for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.53). Lockheed Martin had a return on equity of 108.53% and a net margin of 6.69%.The company had revenue of $20.32 billion during the quarter, compared to analyst estimates of $19.84 billion. During the same quarter last year, the business earned $7.67 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, equities analysts forecast that Lockheed Martin will post 27.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lockheed Martin

A number of institutional investors and hedge funds have recently bought and sold shares of LMT. Vanguard Group Inc. boosted its holdings in shares of Lockheed Martin by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 21,697,527 shares of the aerospace company’s stock worth $10,048,993,000 after purchasing an additional 214,565 shares during the last quarter. Geode Capital Management LLC lifted its position in Lockheed Martin by 0.4% during the second quarter. Geode Capital Management LLC now owns 4,884,954 shares of the aerospace company’s stock worth $2,256,147,000 after buying an additional 19,459 shares in the last quarter. Wellington Management Group LLP lifted its position in Lockheed Martin by 3.4% during the third quarter. Wellington Management Group LLP now owns 2,384,753 shares of the aerospace company’s stock worth $1,190,493,000 after buying an additional 79,491 shares in the last quarter. Invesco Ltd. boosted its stake in Lockheed Martin by 4.2% during the third quarter. Invesco Ltd. now owns 2,196,058 shares of the aerospace company’s stock worth $1,096,294,000 after buying an additional 87,663 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Lockheed Martin by 6.6% in the 3rd quarter. Legal & General Group Plc now owns 1,022,940 shares of the aerospace company’s stock valued at $510,662,000 after buying an additional 63,430 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

About Lockheed Martin

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.