Lockheed Martin (NYSE:LMT) Price Target Cut to $500.00 by Analysts at Wells Fargo & Company

Lockheed Martin (NYSE:LMT) had its target price decreased by equities researchers at Wells Fargo & Company from $543.00 to $500.00 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 target price points to a potential upside of 6.70% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Citigroup lifted their target price 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. Susquehanna reduced their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a research report on Wednesday, October 23rd. Barclays lowered their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday. UBS Group upped their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and decreased their target price for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $591.21.

Lockheed Martin Stock Up 1.0 %

Shares of NYSE:LMT opened at $468.61 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The company has a market capitalization of $111.08 billion, a P/E ratio of 16.97, a P/E/G ratio of 4.05 and a beta of 0.48. Lockheed Martin has a 52-week low of $413.92 and a 52-week high of $618.95. The stock’s fifty day simple moving average is $512.94 and its 200-day simple moving average is $534.43.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $6.77 EPS. As a group, equities research analysts forecast that Lockheed Martin will post 26.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Itau Unibanco Holding S.A. purchased a new stake in shares of Lockheed Martin during the 3rd quarter valued at about $26,000. Mattson Financial Services LLC purchased a new stake in shares of Lockheed Martin during the second quarter valued at approximately $27,000. Sachetta LLC lifted its position in shares of Lockheed Martin by 50.0% during the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $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 acquired a new stake in Lockheed Martin during the 3rd quarter valued at $40,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

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.