Lockheed Martin (NYSE:LMT) Price Target Lowered to $497.00 at Wells Fargo & Company

Lockheed Martin (NYSE:LMT) had its target price dropped by research analysts at Wells Fargo & Company from $500.00 to $497.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 8.25% from the stock’s previous close.

Several other equities research analysts have also recently commented on LMT. JPMorgan Chase & Co. cut their price target on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday. StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 3rd. UBS Group cut 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 report on Wednesday. Royal Bank of Canada decreased their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Barclays cut their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin has a consensus rating of “Moderate Buy” and a consensus price target of $555.60.

Lockheed Martin Stock Performance

LMT traded up $4.76 on Thursday, reaching $459.12. The stock had a trading volume of 1,910,733 shares, compared to its average volume of 1,449,486. The business’s 50-day moving average price is $495.56 and its two-hundred day moving average price is $536.97. The company has a market cap of $108.83 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. Lockheed Martin has a 12-month low of $413.92 and a 12-month high of $618.95. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

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

Hedge Funds Weigh In On Lockheed Martin

A number of institutional investors and hedge funds have recently made changes to their positions in LMT. Itau Unibanco Holding S.A. purchased a new stake in Lockheed Martin during the 3rd quarter worth about $26,000. Burkett Financial Services LLC acquired a new stake in shares of Lockheed Martin during the 3rd quarter worth about $32,000. Mattson Financial Services LLC acquired a new stake in shares of Lockheed Martin during the second quarter worth $27,000. Capital Performance Advisors LLP purchased a new stake in shares of Lockheed Martin in the third quarter valued at $40,000. Finally, Heck Capital Advisors LLC acquired a new position in Lockheed Martin in the fourth quarter valued at $35,000. 74.19% of the stock is owned by institutional investors and hedge funds.

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.