Lockheed Martin (NYSE:LMT) Cut to Neutral at 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 report issued on Monday, MarketBeat.com reports. They presently have a $485.00 price objective on the aerospace company’s stock, down from their previous price objective of $685.00. Bank of America‘s price objective would suggest a potential upside of 10.16% from the stock’s previous close.

LMT has been the subject of several other reports. Citigroup reduced their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. JPMorgan Chase & Co. cut their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Susquehanna decreased their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research report on Wednesday, January 29th. UBS Group cut their price objective on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price objective for the stock 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, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $544.20.

Lockheed Martin Stock Down 5.7 %

Shares of Lockheed Martin stock opened at $440.26 on Monday. Lockheed Martin has a 1 year low of $419.70 and a 1 year high of $618.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The stock has a market cap of $103.63 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 2.07 and a beta of 0.43. The firm’s 50-day moving average is $460.94 and its two-hundred day moving average is $514.45.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 expect that Lockheed Martin will post 27.15 earnings per share for the current fiscal year.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the sale, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the sale, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock valued at $3,155,916 in the last ninety days. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. M1 Capital Management LLC acquired a new stake in Lockheed Martin during the 4th quarter worth about $235,000. DSG Capital Advisors LLC purchased a new stake in shares of Lockheed Martin in the fourth quarter worth about $235,000. Chancellor Financial Group WB LP acquired a new stake in Lockheed Martin during the fourth quarter worth about $209,000. 111 Capital purchased a new position in Lockheed Martin during the fourth quarter valued at approximately $1,155,000. Finally, Thoma Capital Management LLC purchased a new position in Lockheed Martin during the fourth quarter valued at approximately $524,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

About Lockheed Martin

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.