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

Lockheed Martin (NYSE:LMT) had its price objective decreased by investment analysts at Wells Fargo & Company from $543.00 to $500.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 7.68% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the stock. TD Cowen boosted their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their target price on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Barclays dropped their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday. Citigroup boosted 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. Finally, StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $591.21.

Lockheed Martin Stock Up 0.1 %

Shares of NYSE LMT traded up $0.40 during midday trading on Wednesday, reaching $464.36. 133,299 shares of the company’s stock were exchanged, compared to its average volume of 965,695. The stock has a market capitalization of $110.07 billion, a PE ratio of 16.81, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The business’s fifty day moving average price is $516.04 and its two-hundred day moving average price is $535.36.

Lockheed Martin (NYSE:LMT) last announced 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. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same period in the prior year, the company posted $6.77 EPS. Lockheed Martin’s quarterly revenue was up 1.3% on a year-over-year basis. Analysts forecast that Lockheed Martin will post 26.88 EPS for the current year.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds have recently made changes to their positions in the company. Bank of Montreal Can increased its stake in shares of Lockheed Martin by 2.1% in the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after acquiring an additional 13,253 shares during the last quarter. Hilltop Holdings Inc. increased its stake in shares of Lockheed Martin by 79.9% during the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after purchasing an additional 5,361 shares during the last quarter. Old West Investment Management LLC lifted its stake in shares of Lockheed Martin by 6.6% in the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after purchasing an additional 1,643 shares during the last quarter. Virtue Capital Management LLC increased its position in Lockheed Martin by 112.8% during the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock worth $1,315,000 after buying an additional 1,192 shares during the last quarter. Finally, World Investment Advisors LLC raised its holdings in Lockheed Martin by 55.1% during the third quarter. World Investment Advisors LLC now owns 6,468 shares of the aerospace company’s stock valued at $3,781,000 after buying an additional 2,297 shares in the last quarter. Hedge funds and other institutional investors 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.