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

Lockheed Martin (NYSE:LMT) had its price objective lowered by equities research analysts at Wells Fargo & Company from $602.00 to $543.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 6.56% from the stock’s previous close.

Several other research analysts also recently commented on LMT. Citigroup lifted their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Bank of America reiterated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a research report on Friday, August 30th. StockNews.com upgraded shares of Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 6th. Robert W. Baird lifted their price objective on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Lockheed Martin from $600.00 to $620.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $612.29.

Lockheed Martin Price Performance

LMT stock traded down $3.39 during midday trading on Wednesday, reaching $509.55. The company had a trading volume of 143,840 shares, compared to its average volume of 1,075,947. The firm has a 50-day moving average price of $561.02 and a 200-day moving average price of $531.86. The company has a market capitalization of $120.78 billion, a P/E ratio of 18.45, a P/E/G ratio of 4.19 and a beta of 0.47. Lockheed Martin has a 1 year low of $413.92 and a 1 year 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 released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share 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 for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter last year, the business posted $6.77 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, research analysts anticipate that Lockheed Martin will post 26.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lockheed Martin

Several hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its stake in Lockheed Martin by 2.1% in the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after purchasing an additional 13,253 shares in the last quarter. Hilltop Holdings Inc. lifted its stake in shares of Lockheed Martin by 79.9% in the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after buying an additional 5,361 shares in the last quarter. Old West Investment Management LLC grew its holdings in shares of Lockheed Martin by 6.6% during the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after buying an additional 1,643 shares during the last quarter. Empower Advisory Group LLC increased its position in shares of Lockheed Martin by 9.1% during the third quarter. Empower Advisory Group LLC now owns 22,016 shares of the aerospace company’s stock valued at $12,870,000 after acquiring an additional 1,843 shares in the last quarter. Finally, Buck Wealth Strategies LLC purchased a new position in Lockheed Martin in the 2nd quarter worth approximately $6,611,000. 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.