Lockheed Martin (NYSE:LMT) Price Target Lowered to $468.00 at Wells Fargo & Company

Lockheed Martin (NYSE:LMT) had its price target cut by Wells Fargo & Company from $497.00 to $468.00 in a report issued on Wednesday,Benzinga reports. They currently have an equal weight rating on the aerospace company’s stock.

LMT has been the subject of several other reports. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their target price for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. StockNews.com downgraded Lockheed Martin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Susquehanna cut their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price target on shares of Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Finally, Truist Financial initiated coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and a consensus price target of $553.67.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $441.56 on Wednesday. Lockheed Martin has a fifty-two week low of $419.70 and a fifty-two week high of $618.95. The stock has a market cap of $103.94 billion, a price-to-earnings ratio of 19.84, a PEG ratio of 2.07 and a beta of 0.48. The stock’s 50 day simple moving average is $467.23 and its two-hundred day simple moving average is $526.63. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping 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, analysts expect that Lockheed Martin will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Monday, March 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 59.30%.

Institutional Investors Weigh In On Lockheed Martin

Large investors have recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in shares of Lockheed Martin in the 3rd quarter worth $26,000. Millstone Evans Group LLC bought a new position in shares of Lockheed Martin in the 4th quarter valued at about $32,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Lockheed Martin in the 4th quarter worth approximately $34,000. Heck Capital Advisors LLC purchased a new position in shares of Lockheed Martin during the 4th quarter worth about $35,000. Finally, Capital Performance Advisors LLP bought a new position in Lockheed Martin in the 3rd quarter valued at $40,000. 74.19% of the stock is 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.