Wells Fargo & Company Issues Pessimistic Forecast for Lockheed Martin (NYSE:LMT) Stock Price

Lockheed Martin (NYSE:LMT) had its price target lowered by Wells Fargo & Company from $500.00 to $497.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the aerospace company’s stock.

A number of other brokerages also recently commented on LMT. TD Cowen increased their price objective on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada dropped their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research note on Wednesday. UBS Group reduced their price objective on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and dropped their target price for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. Finally, Citigroup reduced their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus target price of $555.60.

Lockheed Martin Stock Up 1.0 %

Shares of LMT stock opened at $459.12 on Thursday. Lockheed Martin has a 1 year low of $413.92 and a 1 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 business’s fifty day moving average is $495.56 and its 200-day moving average is $536.97. The stock has a market cap of $108.83 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Equities analysts expect that Lockheed Martin will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be given a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.88%. Lockheed Martin’s dividend payout ratio is currently 47.79%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its position in Lockheed Martin by 60,592.0% during the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after purchasing an additional 1,556,609 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Lockheed Martin by 1,239.6% during the 4th quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock worth $266,410,000 after buying an additional 507,312 shares during the period. Los Angeles Capital Management LLC grew its stake in Lockheed Martin by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock valued at $263,561,000 after buying an additional 249,591 shares during the last quarter. Wellington Management Group LLP raised its holdings in Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after acquiring an additional 240,306 shares during the period. Finally, FMR LLC lifted its position in Lockheed Martin by 6.6% during the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after acquiring an additional 209,591 shares during the last quarter. Institutional investors and hedge funds own 74.19% 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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.