Lockheed Martin (NYSE:LMT) Price Target Increased to $422.00 by Analysts at Wells Fargo & Company

Lockheed Martin (NYSE:LMT – Get Rating) had its target price upped by research analysts at Wells Fargo & Company from $417.00 to $422.00 in a research note issued on Wednesday, The Fly reports. Wells Fargo & Company‘s price target would suggest a potential downside of 6.06% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Jefferies Financial Group lifted their target price on shares of Lockheed Martin from $500.00 to $525.00 in a report on Monday, December 5th. Royal Bank of Canada lifted their target price on shares of Lockheed Martin from $420.00 to $445.00 and gave the company a “sector perform” rating in a report on Wednesday, October 19th. Susquehanna lifted their target price on shares of Lockheed Martin from $510.00 to $512.00 in a report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Lockheed Martin from $450.00 to $505.00 and gave the company a “neutral” rating in a report on Monday, December 12th. Finally, Susquehanna Bancshares dropped their price target on shares of Lockheed Martin from $539.00 to $510.00 and set a “positive” rating on the stock in a research note on Wednesday, October 19th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $470.00.

Lockheed Martin Stock Up 1.8 %

Shares of LMT opened at $449.23 on Wednesday. The firm has a market cap of $117.73 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 2.59 and a beta of 0.73. The company’s fifty day moving average is $474.66 and its two-hundred day moving average is $444.10. Lockheed Martin has a fifty-two week low of $370.78 and a fifty-two week high of $498.95. The company has a quick ratio of 1.09, a current ratio of 1.28 and a debt-to-equity ratio of 0.96.

Lockheed Martin (NYSE:LMT – Get Rating) last announced its quarterly earnings results on Tuesday, January 24th. The aerospace company reported $7.79 earnings per share for the quarter, beating analysts’ consensus estimates of $7.37 by $0.42. The company had revenue of $18.99 billion for the quarter, compared to analyst estimates of $18.25 billion. Lockheed Martin had a net margin of 9.07% and a return on equity of 65.16%. Lockheed Martin’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $7.47 EPS. Analysts forecast that Lockheed Martin will post 26.96 earnings per share for the current year.

Institutional Investors Weigh In On Lockheed Martin

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Better Money Decisions LLC bought a new stake in shares of Lockheed Martin during the 2nd quarter valued at about $33,000. Schubert & Co grew its position in shares of Lockheed Martin by 53.8% during the 2nd quarter. Schubert & Co now owns 80 shares of the aerospace company’s stock valued at $34,000 after buying an additional 28 shares during the last quarter. IMA Wealth Inc. grew its position in shares of Lockheed Martin by 41.8% during the 2nd quarter. IMA Wealth Inc. now owns 78 shares of the aerospace company’s stock valued at $34,000 after buying an additional 23 shares during the last quarter. Charter Oak Capital Management LLC acquired a new position in Lockheed Martin during the 2nd quarter valued at about $36,000. Finally, Optiver Holding B.V. acquired a new position in Lockheed Martin during the 3rd quarter valued at about $36,000. Institutional investors own 75.18% of the company’s stock.

About Lockheed Martin

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Lockheed Martin Corp. is a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.