Wells Fargo & Company Cuts 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 note published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the aerospace company’s stock.

A number of other brokerages have also weighed in on LMT. Susquehanna lowered their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Barclays reduced their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. upped their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Citigroup boosted their price objective on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $591.21.

Lockheed Martin Stock Down 0.2 %

Shares of NYSE LMT opened at $467.84 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The firm has a market cap of $110.89 billion, a PE ratio of 16.94, a P/E/G ratio of 4.05 and a beta of 0.48. The company’s fifty day simple moving average is $511.39 and its 200 day simple moving average is $534.41. Lockheed Martin has a 12-month low of $413.92 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data 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 company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the prior year, the firm earned $6.77 EPS. The business’s revenue was up 1.3% on a year-over-year basis. As a group, sell-side analysts forecast that Lockheed Martin will post 26.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds have recently modified their holdings of the stock. Itau Unibanco Holding S.A. purchased a new stake in Lockheed Martin in the third quarter worth $26,000. Mattson Financial Services LLC bought a new position in shares of Lockheed Martin during the 2nd quarter worth $27,000. Sachetta LLC increased its holdings in Lockheed Martin by 50.0% in the 2nd quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 20 shares during the last quarter. Burkett Financial Services LLC bought a new stake in Lockheed Martin in the 3rd quarter valued at about $32,000. Finally, Capital Performance Advisors LLP purchased a new stake in Lockheed Martin during the third quarter valued at about $40,000. 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.