Wells Fargo & Company downgraded shares of Lockheed Martin (NYSE:LMT – Get Rating) from an equal weight rating to an underweight rating in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has $415.00 target price on the aerospace company's stock.
LMT has been the subject of a number of other reports. StockNews.com upgraded shares of Lockheed Martin from a buy rating to a strong-buy rating in a research note on Friday, September 23rd. Royal Bank of Canada assumed coverage on shares of Lockheed Martin in a research note on Monday, August 29th. They set a sector perform rating and a $460.00 target price for the company. Finally, Morgan Stanley decreased their target price on shares of Lockheed Martin from $525.00 to $522.00 and set an overweight rating for the company in a research note on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $453.58.
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NYSE:LMT opened at $400.00 on Wednesday. The firm has a 50-day simple moving average of $420.73 and a two-hundred day simple moving average of $430.14. The firm has a market cap of $106.06 billion, a P/E ratio of 23.15, a P/E/G ratio of 2.79 and a beta of 0.66. Lockheed Martin has a fifty-two week low of $324.23 and a fifty-two week high of $479.99. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.06 and a current ratio of 1.27.
Lockheed Martin (NYSE:LMT – Get Rating) last announced its quarterly earnings data on Tuesday, July 19th. The aerospace company reported $6.32 earnings per share for the quarter, topping analysts' consensus estimates of $6.29 by $0.03. The company had revenue of $15.45 billion during the quarter, compared to analyst estimates of $16.02 billion. Lockheed Martin had a net margin of 7.33% and a return on equity of 69.02%. The firm's revenue for the quarter was down 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $7.13 EPS. Analysts predict that Lockheed Martin will post 26.8 earnings per share for the current fiscal year.Insider Buying and Selling at Lockheed Martin
In other Lockheed Martin news, EVP Gregory M. Ulmer sold 6,929 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $423.87, for a total transaction of $2,936,995.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Gregory M. Ulmer sold 6,929 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $423.87, for a total value of $2,936,995.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Donovan purchased 632 shares of the stock in a transaction that occurred on Wednesday, July 20th. The stock was acquired at an average cost of $396.16 per share, with a total value of $250,373.12. Following the acquisition, the director now owns 1,200 shares in the company, valued at approximately $475,392. The disclosure for this purchase can be found here. Insiders own 0.17% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Capital World Investors lifted its stake in shares of Lockheed Martin by 19.0% during the 1st quarter. Capital World Investors now owns 16,021,414 shares of the aerospace company's stock worth $7,071,954,000 after acquiring an additional 2,558,881 shares during the last quarter. GQG Partners LLC bought a new position in Lockheed Martin in the 1st quarter valued at $763,213,000. Vanguard Group Inc. grew its position in Lockheed Martin by 8.3% in the 1st quarter. Vanguard Group Inc. now owns 22,579,851 shares of the aerospace company's stock valued at $9,966,746,000 after acquiring an additional 1,727,343 shares during the last quarter. FMR LLC grew its position in Lockheed Martin by 39.9% in the 2nd quarter. FMR LLC now owns 5,966,076 shares of the aerospace company's stock valued at $2,565,175,000 after acquiring an additional 1,701,615 shares during the last quarter. Finally, Invesco Ltd. grew its position in Lockheed Martin by 49.6% in the 1st quarter. Invesco Ltd. now owns 1,858,507 shares of the aerospace company's stock valued at $820,347,000 after acquiring an additional 615,798 shares during the last quarter. Institutional investors own 75.50% of the company's stock.
Lockheed Martin Company Profile
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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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.
Further Reading
- Get a free copy of the StockNews.com research report on Lockheed Martin (LMT)
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