Lockheed Martin (NYSE:LMT) Trading Down 3.9% on Analyst Downgrade

Lockheed Martin Corporation (NYSE:LMT)’s share price dropped 3.9% during mid-day 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. Approximately 2,624,107 shares changed hands during mid-day trading, an increase of 16% from the average daily volume of 2,263,005 shares. The stock had previously closed at $628.26.

LMT has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Lockheed Martin from $492.00 to $611.00 and gave the company a “hold” rating in a research note on Friday, January 30th. Wall Street Zen upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 31st. Morgan Stanley reiterated an “equal weight” rating and issued a $543.00 price target (down from $630.00) on shares of Lockheed Martin in a report on Tuesday, December 16th. Robert W. Baird boosted their price target on Lockheed Martin from $550.00 to $640.00 and gave the stock an “outperform” rating in a research report on Friday, January 16th. Finally, Citigroup raised their price objective on Lockheed Martin from $505.00 to $592.00 and gave the company a “neutral” rating in a research 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 given a Sell rating to the company. According to data from MarketBeat.com, Lockheed Martin currently has an average rating of “Hold” and an average target price of $608.72.

Institutional Trading of Lockheed Martin

A number of institutional investors have recently bought and sold shares of LMT. United Financial Planning Group LLC purchased a new stake in shares of Lockheed Martin during the third quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC lifted its position in Lockheed Martin by 285.7% during the 3rd quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock worth $27,000 after acquiring an additional 40 shares during the period. Grey Fox Wealth Advisors LLC purchased a new stake in Lockheed Martin during the 3rd quarter valued at about $27,000. Mid American Wealth Advisory Group Inc. purchased a new stake in Lockheed Martin during the 2nd quarter valued at about $28,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of Lockheed Martin in the second quarter valued at about $29,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

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 stock has a market capitalization of $139.78 billion, a PE ratio of 28.27, a PEG ratio of 1.37 and a beta of 0.23. The firm has a 50 day moving average price of $522.92 and a 200-day moving average price of $484.97.

Lockheed Martin (NYSE:LMT) last issued 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 net margin of 6.69% and a return on equity of 108.53%. The firm had revenue of $20.32 billion during the quarter, compared to analysts’ expectations of $19.84 billion. During the same quarter in the prior year, the company earned $7.67 EPS. Lockheed Martin’s quarterly revenue was up 9.1% on a year-over-year basis. Research analysts expect that Lockheed Martin Corporation will post 27.15 EPS for the current fiscal 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.