UBS Group Cuts Lockheed Martin (NYSE:LMT) Price Target to $508.00

Lockheed Martin (NYSE:LMT) had its price objective cut by UBS Group from $527.00 to $508.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the aerospace company’s stock.

Several other analysts have also recently commented on the company. TD Cowen raised their price target on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada reduced their target price on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Truist Financial assumed coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Friday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and dropped their target price for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $555.60.

Lockheed Martin Stock Performance

NYSE:LMT opened at $462.53 on Wednesday. The firm has a market cap of $108.88 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 3.78 and a beta of 0.48. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 1.12. Lockheed Martin has a 1-year low of $413.92 and a 1-year high of $618.95. The firm’s fifty day moving average price is $493.89 and its 200 day moving average price is $536.43.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts expect that Lockheed Martin will post 27.09 EPS for the current year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s payout ratio is currently 59.30%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Lockheed Martin during the third quarter worth about $26,000. Burkett Financial Services LLC purchased a new stake in Lockheed Martin in the 3rd quarter worth approximately $32,000. Mattson Financial Services LLC acquired a new position in Lockheed Martin in the 2nd quarter valued at $27,000. Capital Performance Advisors LLP acquired a new position in Lockheed Martin in the 3rd quarter valued at $40,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Lockheed Martin during the fourth quarter worth $35,000. Institutional investors and hedge funds 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.