Lockheed Martin (NYSE:LMT) Downgraded by Wall Street Zen to “Hold”

Lockheed Martin (NYSE:LMT) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Other equities research analysts have also issued research reports about the company. Royal Bank Of Canada lowered their price objective on Lockheed Martin from $480.00 to $440.00 and set a “sector perform” rating on the stock in a research report on Wednesday. UBS Group lowered their price objective on Lockheed Martin from $498.00 to $453.00 and set a “neutral” rating on the stock in a research report on Wednesday. TD Cowen restated a “hold” rating and issued a $480.00 price objective (down previously from $500.00) on shares of Lockheed Martin in a research report on Thursday, July 10th. Morgan Stanley upgraded Lockheed Martin from an “equal weight” rating to an “overweight” rating and set a $575.00 price target on the stock in a research report on Wednesday, April 16th. Finally, Cowen downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Thursday, July 10th. Fifteen investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Lockheed Martin has a consensus rating of “Hold” and a consensus price target of $506.65.

Lockheed Martin Stock Up 0.2%

Shares of LMT stock opened at $421.60 on Friday. The stock’s 50-day simple moving average is $465.80 and its 200-day simple moving average is $462.71. The company has a debt-to-equity ratio of 3.47, a quick ratio of 0.91 and a current ratio of 0.98. The firm has a market capitalization of $98.43 billion, a PE ratio of 23.74, a P/E/G ratio of 1.45 and a beta of 0.28. Lockheed Martin has a fifty-two week low of $410.11 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.57 by $0.72. Lockheed Martin had a return on equity of 107.60% and a net margin of 5.85%. The company had revenue of $18.16 billion during the quarter, compared to the consensus estimate of $18.59 billion. During the same period in the previous year, the company posted $7.11 earnings per share. Lockheed Martin’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts expect that Lockheed Martin will post 27.15 earnings per share for the current year.

Hedge Funds Weigh In On Lockheed Martin

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Heartland Bank & Trust Co purchased a new position in Lockheed Martin during the second quarter worth approximately $876,000. NorthRock Partners LLC lifted its position in Lockheed Martin by 6.4% during the second quarter. NorthRock Partners LLC now owns 3,219 shares of the aerospace company’s stock worth $1,491,000 after buying an additional 194 shares in the last quarter. Westchester Capital Management Inc. lifted its position in Lockheed Martin by 0.8% during the second quarter. Westchester Capital Management Inc. now owns 32,274 shares of the aerospace company’s stock worth $14,947,000 after buying an additional 255 shares in the last quarter. Concord Asset Management LLC VA lifted its position in Lockheed Martin by 3.0% during the second quarter. Concord Asset Management LLC VA now owns 8,375 shares of the aerospace company’s stock worth $3,879,000 after buying an additional 244 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in Lockheed Martin by 21.7% during the second quarter. Sequoia Financial Advisors LLC now owns 15,640 shares of the aerospace company’s stock worth $7,243,000 after buying an additional 2,790 shares in the last quarter. 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.