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

Lockheed Martin (NYSE:LMT) had its price objective reduced by Wells Fargo & Company from $543.00 to $500.00 in a research note released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the aerospace company’s stock.

Several other research firms have also issued reports on LMT. TD Cowen increased their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Susquehanna decreased their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday, October 23rd. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and decreased their price objective for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. Finally, Barclays cut their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $591.21.

Lockheed Martin Stock Down 0.2 %

LMT stock opened at $467.84 on Wednesday. The business’s fifty day moving average price is $511.39 and its two-hundred day moving average price is $534.41. The stock has a market capitalization of $110.89 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 4.05 and a beta of 0.48. Lockheed Martin has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the previous year, the company earned $6.77 EPS. The business’s revenue was up 1.3% on a year-over-year basis. On average, equities analysts anticipate that Lockheed Martin will post 26.88 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. bought a new stake in Lockheed Martin in the third quarter valued at approximately $26,000. Mattson Financial Services LLC bought a new stake in shares of Lockheed Martin in the 2nd quarter valued at $27,000. Sachetta LLC increased its position in shares of Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after buying an additional 20 shares during the period. Burkett Financial Services LLC bought a new position in Lockheed Martin during the third quarter worth $32,000. Finally, Capital Performance Advisors LLP acquired a new position in Lockheed Martin in the third quarter valued at $40,000. 74.19% of the stock is owned by institutional investors.

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.