Wells Fargo & Company Lowers Lockheed Martin (NYSE:LMT) Price Target to $500.00

Lockheed Martin (NYSE:LMT) had its price target decreased by Wells Fargo & Company from $543.00 to $500.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 6.70% from the company’s previous close.

Several other brokerages also recently weighed in on LMT. Barclays decreased their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday. TD Cowen lifted their target price on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and cut their price target for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. UBS Group lifted their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Citigroup upped their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $591.21.

Lockheed Martin Stock Up 1.0 %

Shares of NYSE LMT opened at $468.61 on Wednesday. The stock has a market cap of $111.08 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. Lockheed Martin has a 52-week low of $413.92 and a 52-week high of $618.95. The business has a 50-day moving average price of $512.94 and a 200 day moving average price of $534.43. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same period last year, the firm posted $6.77 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities research analysts forecast that Lockheed Martin will post 26.88 earnings per share for the current year.

Institutional Investors Weigh In On Lockheed Martin

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in Lockheed Martin by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock valued at $2,816,898,000 after purchasing an additional 83,997 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 raised its stake in shares of Lockheed Martin by 8.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after buying an additional 240,306 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Lockheed Martin by 1.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after buying an additional 31,545 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after acquiring an additional 1,556,609 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

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.