Wells Fargo & Company Lowers Lockheed Martin (NYSE:LMT) Price Target to $497.00

Lockheed Martin (NYSE:LMT) had its price target dropped by equities researchers at Wells Fargo & Company from $500.00 to $497.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 7.45% from the company’s current price.

A number of other analysts have also issued reports on the company. UBS Group reduced their target price on Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a report on Wednesday. Susquehanna reduced their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. Truist Financial began coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target on the stock. Finally, Citigroup dropped their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $555.60.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $462.53 on Thursday. Lockheed Martin has a one year low of $413.92 and a one year high of $618.95. The stock has a fifty day moving average of $493.89 and a 200-day moving average of $536.43. The company has a market capitalization of $108.88 billion, a PE ratio of 20.78, a price-to-earnings-growth ratio of 3.78 and a beta of 0.48. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.12 and a current ratio of 1.13.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. As a group, equities analysts anticipate that Lockheed Martin will post 27.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds have recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in Lockheed Martin during the third quarter valued at about $26,000. Burkett Financial Services LLC bought a new stake in shares of Lockheed Martin in the third quarter valued at about $32,000. Mattson Financial Services LLC bought a new stake in shares of Lockheed Martin in the second quarter valued at about $27,000. Capital Performance Advisors LLP bought a new stake in shares of Lockheed Martin in the third quarter valued at about $40,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of Lockheed Martin in the fourth quarter valued at about $35,000. 74.19% of the stock is currently owned by institutional investors.

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.