Wells Fargo & Company Has Lowered Expectations for Lockheed Martin (NYSE:LMT) Stock Price

Lockheed Martin (NYSE:LMT) had its price target dropped by Wells Fargo & Company from $497.00 to $468.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 4.84% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. decreased their price objective on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Citigroup decreased their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Barclays decreased their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. StockNews.com downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Finally, 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and a consensus target price of $553.67.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $446.38 on Wednesday. The firm has a market capitalization of $105.07 billion, a P/E ratio of 20.05, a P/E/G ratio of 2.07 and a beta of 0.48. Lockheed Martin has a 52 week low of $419.70 and a 52 week high of $618.95. The firm’s 50 day moving average is $466.57 and its two-hundred day moving average is $526.08. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of Lockheed Martin by 17.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after buying an additional 1,132,461 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Lockheed Martin by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 4,887,242 shares of the aerospace company’s stock valued at $2,374,557,000 after buying an additional 59,597 shares in the last quarter. FMR LLC increased its position in shares of Lockheed Martin by 6.6% in the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after buying an additional 209,591 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Lockheed Martin by 8.5% in the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after buying an additional 240,306 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Lockheed Martin by 6.3% in the fourth quarter. Northern Trust Corp now owns 2,260,910 shares of the aerospace company’s stock valued at $1,098,667,000 after buying an additional 134,662 shares in the last quarter. 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.