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

Lockheed Martin (NYSE:LMT) had its target price reduced by research analysts at Wells Fargo & Company from $602.00 to $543.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 9.32% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. TD Cowen raised their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup lifted 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. Bank of America reaffirmed a “buy” rating and issued a $635.00 price objective on shares of Lockheed Martin in a report on Friday, August 30th. Barclays upped their target price on Lockheed Martin from $505.00 to $565.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target on the stock in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average target price of $612.29.

Lockheed Martin Price Performance

NYSE:LMT opened at $496.69 on Wednesday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The firm has a market cap of $117.73 billion, a price-to-earnings ratio of 17.98, a P/E/G ratio of 4.19 and a beta of 0.46. Lockheed Martin has a 52 week low of $413.92 and a 52 week high of $618.95. The firm’s 50-day simple moving average is $557.18 and its 200 day simple moving average is $531.98.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 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 business had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the previous year, the firm earned $6.77 earnings per share. Lockheed Martin’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, sell-side analysts predict that Lockheed Martin will post 26.94 earnings per share for the current year.

Institutional Trading of Lockheed Martin

A number of institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of Lockheed Martin by 1.8% in the third quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock worth $2,816,898,000 after acquiring an additional 83,997 shares during the last quarter. FMR LLC increased its position in Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after acquiring an additional 209,591 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Lockheed Martin by 8.5% during the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after acquiring an additional 240,306 shares during the period. Ameriprise Financial Inc. boosted its stake in Lockheed Martin by 1.7% in the second quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after acquiring an additional 31,545 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Lockheed Martin by 60,592.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after buying an additional 1,556,609 shares during the period. Institutional investors and hedge funds 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.