Lockheed Martin (NYSE:LMT) Downgraded to “Neutral” Rating by Bank of America

Lockheed Martin (NYSE:LMT) was downgraded by equities researchers at Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, Marketbeat.com reports. They presently have a $485.00 price target on the aerospace company’s stock, down from their prior price target of $685.00. Bank of America‘s price target indicates a potential upside of 9.57% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. UBS Group decreased their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Melius downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday. StockNews.com lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Royal Bank of Canada decreased their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price objective for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $544.20.

Lockheed Martin Stock Performance

Shares of NYSE:LMT opened at $442.63 on Monday. The business has a 50-day moving average of $459.13 and a two-hundred day moving average of $512.63. The firm has a market capitalization of $104.19 billion, a PE ratio of 19.88, a P/E/G ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. Lockheed Martin has a 12 month low of $419.70 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, research analysts forecast that Lockheed Martin will post 27.15 earnings per share for the current year.

Insider Transactions at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the transaction, the insider now owns 2,000 shares in the company, valued at approximately $884,840. This trade represents a 61.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the sale, the vice president now directly owns 2,278 shares in the company, 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. In the last 90 days, insiders sold 7,133 shares of company stock valued at $3,155,916. Insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Itau Unibanco Holding S.A. bought a new position in Lockheed Martin in the third quarter worth about $26,000. Millstone Evans Group LLC acquired a new stake in shares of Lockheed Martin during the 4th quarter worth approximately $32,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Lockheed Martin in the 4th quarter worth approximately $34,000. Heck Capital Advisors LLC acquired a new position in Lockheed Martin during the 4th quarter valued at approximately $35,000. Finally, Redwood Park Advisors LLC bought a new position in Lockheed Martin during the 4th quarter worth $40,000. 74.19% of the stock is owned by institutional investors and hedge funds.

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.