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

StockNews.com cut shares of Lockheed Martin (NYSE:LMT - Free Report) from a strong-buy rating to a buy rating in a report published on Saturday.

Several other analysts have also commented on the company. Melius lowered Lockheed Martin from a "buy" rating to a "hold" rating in a report on Monday, March 24th. Truist Financial assumed coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a "buy" rating and a $579.00 price target for the company. Susquehanna decreased their price objective on shares of Lockheed Martin from $590.00 to $550.00 and set a "positive" rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company cut their target price on shares of Lockheed Martin from $476.00 to $432.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Finally, UBS Group increased their target price on Lockheed Martin from $481.00 to $499.00 and gave the company a "neutral" rating in a report on Wednesday, April 23rd. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Lockheed Martin presently has an average rating of "Moderate Buy" and a consensus target price of $544.79.

Lockheed Martin Stock Performance

Shares of NYSE LMT traded down $5.58 during midday trading on Friday, reaching $472.14. 2,089,571 shares of the stock were exchanged, compared to its average volume of 1,258,094. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The firm has a 50-day simple moving average of $459.44 and a two-hundred day simple moving average of $487.99. Lockheed Martin has a twelve month low of $418.88 and a twelve month high of $618.95. The firm has a market cap of $110.62 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 2.07 and a beta of 0.29.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating analysts' consensus estimates of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The company had revenue of $17.96 billion during the quarter, compared to analysts' expectations of $17.83 billion. As a group, analysts anticipate that Lockheed Martin will post 27.15 EPS for the current fiscal year.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the transaction, the insider now owns 2,000 shares of the company's stock, valued at $884,840. This represents a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Harry Edward Paul III sold 707 shares of Lockheed Martin stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the sale, the vice president now owns 2,278 shares of the company's stock, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,133 shares of company stock worth $3,155,916 in the last ninety days. 0.14% of the stock is owned by insiders.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its holdings in Lockheed Martin by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 270,879 shares of the aerospace company's stock valued at $158,345,000 after acquiring an additional 10,358 shares during the period. Versant Capital Management Inc lifted its position in shares of Lockheed Martin by 50.3% during the fourth quarter. Versant Capital Management Inc now owns 236 shares of the aerospace company's stock worth $115,000 after purchasing an additional 79 shares in the last quarter. Modus Advisors LLC purchased a new position in shares of Lockheed Martin in the fourth quarter valued at approximately $70,000. Central Pacific Bank Trust Division grew its holdings in shares of Lockheed Martin by 15.7% in the fourth quarter. Central Pacific Bank Trust Division now owns 567 shares of the aerospace company's stock valued at $276,000 after purchasing an additional 77 shares in the last quarter. Finally, Silverleafe Capital Partners LLC increased its stake in Lockheed Martin by 3.0% during the 4th quarter. Silverleafe Capital Partners LLC now owns 6,396 shares of the aerospace company's stock worth $3,108,000 after buying an additional 189 shares during the period. Hedge funds and other 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.