Lockheed Martin (NYSE:LMT) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of Lockheed Martin (NYSE:LMT) from a strong-buy rating to a buy rating in a report released on Sunday morning.

A number of other brokerages have also issued reports on LMT. Sanford C. Bernstein reissued a “market perform” rating and set a $654.00 target price on shares of Lockheed Martin in a research note on Friday, February 6th. DZ Bank downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and set a $665.00 price target on the stock. in a research note on Tuesday, February 3rd. BNP Paribas Exane increased their price objective on Lockheed Martin from $550.00 to $570.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. Truist Financial lifted their price objective on Lockheed Martin from $605.00 to $695.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, JPMorgan Chase & Co. boosted their target price on Lockheed Martin from $515.00 to $680.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Seven investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $623.16.

Lockheed Martin Price Performance

Shares of LMT opened at $609.41 on Friday. The business’s 50-day moving average is $630.73 and its 200-day moving average is $534.41. The company has a debt-to-equity ratio of 3.05, a current ratio of 1.09 and a quick ratio of 0.94. The company has a market capitalization of $140.21 billion, a price-to-earnings ratio of 28.36, a P/E/G ratio of 1.11 and a beta of 0.22. Lockheed Martin has a fifty-two week low of $410.11 and a fifty-two week high of $692.00.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Thursday, January 29th. The aerospace company reported $5.80 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $19.84 billion. During the same quarter in the prior year, the business posted $7.67 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities research analysts expect that Lockheed Martin will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Monday, March 2nd will be paid a dividend of $3.45 per share. The ex-dividend date is Monday, March 2nd. This represents a $13.80 annualized dividend and a dividend yield of 2.3%. Lockheed Martin’s dividend payout ratio is 64.22%.

Institutional Investors Weigh In On Lockheed Martin

Institutional investors and hedge funds have recently modified their holdings of the business. Brighton Jones LLC increased its holdings in shares of Lockheed Martin by 5.0% during the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock valued at $1,941,000 after acquiring an additional 191 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in Lockheed Martin by 5.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 973 shares of the aerospace company’s stock worth $451,000 after purchasing an additional 50 shares during the last quarter. Schnieders Capital Management LLC. lifted its holdings in Lockheed Martin by 17.3% in the 2nd quarter. Schnieders Capital Management LLC. now owns 1,460 shares of the aerospace company’s stock worth $676,000 after purchasing an additional 215 shares during the last quarter. Evelyn Partners Investment Management Services Ltd boosted its position in Lockheed Martin by 2,500.0% during the second quarter. Evelyn Partners Investment Management Services Ltd now owns 130 shares of the aerospace company’s stock worth $60,000 after purchasing an additional 125 shares during the period. Finally, Private Management Group Inc. grew its holdings in Lockheed Martin by 630.6% during the second quarter. Private Management Group Inc. now owns 3,507 shares of the aerospace company’s stock valued at $1,624,000 after purchasing an additional 3,027 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

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.