Wells Fargo & Company Initiates Coverage on Lockheed Martin (NYSE:LMT)

Equities researchers at Wells Fargo & Company started coverage on shares of Lockheed Martin (NYSE:LMT) in a research note issued to investors on Wednesday, Price Targets.com reports. The brokerage set an “equal weight” rating and a $384.00 price target on the aerospace company’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 0.97% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Morgan Stanley raised their price target on shares of Lockheed Martin from $445.00 to $458.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 27th. Wolfe Research started coverage on shares of Lockheed Martin in a research note on Friday, April 9th. They issued a “peer perform” rating for the company. Cowen reiterated a “buy” rating and issued a $410.00 target price on shares of Lockheed Martin in a research note on Thursday, April 22nd. Finally, Credit Suisse Group lowered their target price on shares of Lockheed Martin from $351.00 to $334.00 in a research note on Wednesday, January 27th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Lockheed Martin currently has an average rating of “Buy” and an average target price of $422.80.

Shares of LMT stock opened at $387.77 on Wednesday. The company has a 50 day simple moving average of $380.36 and a two-hundred day simple moving average of $357.91. The company has a current ratio of 1.33, a quick ratio of 1.12 and a debt-to-equity ratio of 2.34. The stock has a market cap of $107.77 billion, a P/E ratio of 16.71, a P/E/G ratio of 1.98 and a beta of 0.92. Lockheed Martin has a 12 month low of $319.81 and a 12 month high of $417.62.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Monday, April 19th. The aerospace company reported $6.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $6.32 by $0.24. The firm had revenue of $16.26 billion during the quarter, compared to analysts’ expectations of $16.42 billion. Lockheed Martin had a net margin of 10.18% and a return on equity of 173.43%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $6.08 earnings per share. As a group, equities analysts forecast that Lockheed Martin will post 24.82 earnings per share for the current year.

In related news, SVP Maryanne Lavan sold 5,406 shares of the business’s stock in a transaction on Thursday, April 22nd. The shares were sold at an average price of $383.84, for a total value of $2,075,039.04. Also, COO John Frank A. St sold 6,855 shares of the business’s stock in a transaction on Monday, April 26th. The shares were sold at an average price of $371.95, for a total transaction of $2,549,717.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,707 shares of company stock valued at $5,925,208. Company insiders own 0.17% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Key Financial Inc purchased a new stake in Lockheed Martin in the 4th quarter worth $26,000. Veritas Investment Partners UK Ltd. purchased a new stake in Lockheed Martin in the 4th quarter worth $26,000. TRU Independence Asset Management 2 LLC purchased a new stake in Lockheed Martin in the 4th quarter worth $29,000. Encompass Wealth Advisors LLC purchased a new stake in Lockheed Martin in the 4th quarter worth $29,000. Finally, Better Money Decisions LLC purchased a new stake in Lockheed Martin in the 1st quarter worth $31,000. Hedge funds and other institutional investors own 77.00% of the company’s stock.

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. It operates through four segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space.

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Analyst Recommendations for Lockheed Martin (NYSE:LMT)

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