Lockheed Martin (NYSE:LMT) Given New $500.00 Price Target at Wells Fargo & Company

Lockheed Martin (NYSE:LMT) had its target price trimmed by Wells Fargo & Company from $543.00 to $500.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the aerospace company’s stock.

LMT has been the topic of several other reports. TD Cowen increased their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Citigroup upped their target price on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. upped their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Susquehanna lowered their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research note on Wednesday, October 23rd. Finally, StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $591.21.

Lockheed Martin Stock Up 1.0 %

NYSE:LMT opened at $468.61 on Wednesday. The firm’s 50-day moving average price is $514.50 and its 200-day moving average price is $534.89. The company has a market capitalization of $111.08 billion, a PE ratio of 16.97, a P/E/G ratio of 4.05 and a beta of 0.48. 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 has a 1-year low of $413.92 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating 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 company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the prior year, the firm posted $6.77 EPS. Lockheed Martin’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, equities analysts predict that Lockheed Martin will post 26.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Lockheed Martin

A number of institutional investors have recently added to or reduced their stakes in LMT. Itau Unibanco Holding S.A. purchased a new stake in Lockheed Martin during the 3rd quarter valued at approximately $26,000. Mattson Financial Services LLC purchased a new stake in Lockheed Martin during the 2nd quarter valued at approximately $27,000. Sachetta LLC grew its holdings in shares of Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 20 shares in the last quarter. Burkett Financial Services LLC purchased a new position in shares of Lockheed Martin in the third quarter valued at $32,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Lockheed Martin in the third quarter valued at $40,000. 74.19% of the stock is owned by hedge funds and other 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.