Wells Fargo & Company Cuts Lockheed Martin (NYSE:LMT) Price Target to $543.00

Lockheed Martin (NYSE:LMT) had its price target lowered by Wells Fargo & Company from $602.00 to $543.00 in a research note published on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the aerospace company’s stock.

Several other equities analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. StockNews.com raised shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Friday, December 6th. UBS Group increased 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. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. lifted their price target on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $612.29.

Lockheed Martin Stock Down 0.4 %

Shares of NYSE:LMT opened at $494.67 on Wednesday. The company has a market capitalization of $117.26 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 4.13 and a beta of 0.46. Lockheed Martin has a 12-month low of $413.92 and a 12-month high of $618.95. The business has a 50-day moving average price of $555.00 and a 200 day moving average price of $531.74. The company has a current ratio of 1.30, a quick ratio of 1.12 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, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the previous year, the company earned $6.77 earnings per share. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. Sell-side analysts expect that Lockheed Martin will post 26.88 EPS for the current year.

Lockheed Martin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $3.30 per share. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Monday, December 2nd. Lockheed Martin’s payout ratio is currently 47.79%.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds have recently modified their holdings of the company. Garden State Investment Advisory Services LLC acquired a new position in Lockheed Martin in the third quarter valued at $211,000. FFG Partners LLC raised its stake in shares of Lockheed Martin by 5.0% during the third quarter. FFG Partners LLC now owns 18,708 shares of the aerospace company’s stock valued at $10,936,000 after purchasing an additional 886 shares during the period. Beaird Harris Wealth Management LLC raised its stake in shares of Lockheed Martin by 196.0% during the third quarter. Beaird Harris Wealth Management LLC now owns 148 shares of the aerospace company’s stock valued at $87,000 after purchasing an additional 98 shares during the period. American Trust lifted its position in shares of Lockheed Martin by 20.0% during the third quarter. American Trust now owns 1,553 shares of the aerospace company’s stock worth $908,000 after purchasing an additional 259 shares in the last quarter. Finally, Old North State Trust LLC boosted its stake in shares of Lockheed Martin by 4.3% in the third quarter. Old North State Trust LLC now owns 745 shares of the aerospace company’s stock valued at $435,000 after purchasing an additional 31 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

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.