Wells Fargo & Company Has Lowered Expectations for Lockheed Martin (NYSE:LMT) Stock Price

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

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. increased their price target 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. UBS Group raised their price target on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Citigroup boosted their price objective on Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 3rd. Finally, Robert W. Baird upped their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. One equities 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $591.21.

Lockheed Martin Stock Performance

Shares of NYSE:LMT traded up $0.40 on Wednesday, hitting $464.36. 133,299 shares of the company were exchanged, compared to its average volume of 965,695. Lockheed Martin has a one year low of $413.92 and a one year 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 firm has a market capitalization of $110.07 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 4.05 and a beta of 0.48. The company’s 50 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 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.77 earnings per share. Research analysts expect that Lockheed Martin will post 26.88 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. bought a new position in shares of Lockheed Martin during the 3rd quarter worth approximately $26,000. Burkett Financial Services LLC acquired a new stake in Lockheed Martin in the 3rd quarter valued at $32,000. Mattson Financial Services LLC acquired a new position in shares of Lockheed Martin during the 2nd quarter worth about $27,000. Sachetta LLC increased its position 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 acquiring an additional 20 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in Lockheed Martin in the third quarter valued at approximately $40,000. 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.