Royal Bank of Canada Downgrades Lockheed Martin (NYSE:LMT) to Sector Perform

Royal Bank of Canada cut shares of Lockheed Martin (NYSE:LMT) from an outperform rating to a sector perform rating in a research note issued to investors on Thursday, Marketbeat reports. Royal Bank of Canada currently has $480.00 price target on the aerospace company’s stock, down from their previous price target of $550.00.

LMT has been the topic of a number of other research reports. Melius lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Barclays cut their price objective on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Truist Financial started coverage on Lockheed Martin in a report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price for the company. Susquehanna cut their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. Finally, StockNews.com raised shares of Lockheed Martin from a “hold” rating to a “buy” rating in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $539.53.

Lockheed Martin Stock Performance

NYSE LMT opened at $441.41 on Thursday. The stock has a fifty day simple moving average of $456.49 and a 200-day simple moving average of $510.30. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10. The stock has a market cap of $103.90 billion, a PE ratio of 19.83, a P/E/G ratio of 2.07 and a beta of 0.43. Lockheed Martin has a twelve month low of $419.70 and a twelve month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping 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%. Equities analysts anticipate that Lockheed Martin will post 27.15 earnings per share for the current year.

Lockheed Martin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were issued a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 2.99%. The ex-dividend date was Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Insiders Place Their Bets

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the transaction, the insider now directly owns 2,000 shares of the company’s stock, valued at $884,840. This trade represents a 61.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Harry Edward Paul III sold 707 shares of the business’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 of the company’s stock, valued at approximately $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 sold 7,133 shares of company stock valued at $3,155,916 in the last ninety days. Insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

Several hedge funds have recently made changes to their positions in LMT. Itau Unibanco Holding S.A. acquired a new stake in shares of Lockheed Martin in the 3rd quarter valued at about $26,000. Millstone Evans Group LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter valued at approximately $32,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Lockheed Martin during the fourth quarter worth approximately $34,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin in the 4th quarter valued at $35,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Lockheed Martin in the 3rd quarter valued at $42,000. 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.