Wells Fargo & Company Cuts Lockheed Martin (NYSE:LMT) Price Target to $468.00

Lockheed Martin (NYSE:LMT) had its price target reduced by Wells Fargo & Company from $497.00 to $468.00 in a research report released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the aerospace company’s stock.

A number of other research firms have also recently commented on LMT. Morgan Stanley reduced their target price on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price objective for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Susquehanna dropped their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a research report on Wednesday, January 29th. Royal Bank of Canada reduced their price target on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Finally, Truist Financial began coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $553.67.

Lockheed Martin Stock Performance

NYSE:LMT opened at $450.19 on Wednesday. The stock has a market cap of $105.97 billion, a P/E ratio of 20.22, a PEG ratio of 2.07 and a beta of 0.48. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The business’s 50-day moving average price is $465.79 and its two-hundred day moving average price is $525.34. Lockheed Martin has a twelve month low of $419.70 and a twelve month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, equities analysts predict that Lockheed Martin will post 27.15 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Monday, March 3rd will be paid a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 annualized dividend and a dividend yield of 2.93%. Lockheed Martin’s payout ratio is presently 59.30%.

Insider Activity at Lockheed Martin

In related news, VP Harry Edward Paul III sold 707 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now owns 2,278 shares in the company, valued at $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the sale, the insider now owns 2,000 shares of the company’s stock, valued at $884,840. This trade represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock worth $3,155,916 in the last 90 days. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Proficio Capital Partners LLC raised its holdings in Lockheed Martin by 53,784.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock worth $600,412,000 after purchasing an additional 1,233,275 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Lockheed Martin by 17.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock worth $3,630,492,000 after buying an additional 1,132,461 shares during the period. Castlekeep Investment Advisors LLC bought a new position in shares of Lockheed Martin in the 4th quarter worth about $526,587,000. Leigh Baldwin & CO. LLC purchased a new position in Lockheed Martin during the 4th quarter valued at about $451,985,000. Finally, Van ECK Associates Corp boosted its stake in Lockheed Martin by 1,239.6% during the fourth quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock worth $266,410,000 after acquiring an additional 507,312 shares in the last quarter. Institutional investors 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.