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

Lockheed Martin (NYSE:LMT) had its target price decreased by Wells Fargo & Company from $543.00 to $500.00 in a research report report published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the aerospace company’s stock.

LMT has been the subject of a number of other reports. TD Cowen raised their price target on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Susquehanna decreased their target price on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research report on Wednesday, October 23rd. StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 3rd. Royal Bank of Canada decreased their target price on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Robert W. Baird lifted their target price on 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 given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $591.21.

Lockheed Martin Trading Up 1.0 %

LMT stock opened at $468.61 on Wednesday. The firm has a market cap of $111.08 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. The firm has a fifty day moving average price of $514.50 and a 200 day moving average price of $534.89. Lockheed Martin has a fifty-two week low of $413.92 and a fifty-two week 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.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Lockheed Martin’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the company earned $6.77 earnings per share. Sell-side analysts anticipate that Lockheed Martin will post 26.88 earnings per share for the current fiscal year.

Institutional Trading of Lockheed Martin

Institutional investors and hedge funds have recently made changes to their positions in the company. Lantz Financial LLC raised its holdings in Lockheed Martin by 2.6% in the second quarter. Lantz Financial LLC now owns 4,882 shares of the aerospace company’s stock worth $2,281,000 after purchasing an additional 123 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in Lockheed Martin by 6.7% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 1,603 shares of the aerospace company’s stock worth $749,000 after purchasing an additional 101 shares in the last quarter. Royal London Asset Management Ltd. raised its holdings in Lockheed Martin by 0.5% in the second quarter. Royal London Asset Management Ltd. now owns 86,122 shares of the aerospace company’s stock worth $40,228,000 after purchasing an additional 440 shares in the last quarter. Sachetta LLC raised its holdings in Lockheed Martin by 50.0% in the second quarter. Sachetta LLC now owns 60 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 20 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in Lockheed Martin by 7.8% in the second quarter. Daiwa Securities Group Inc. now owns 23,527 shares of the aerospace company’s stock worth $10,989,000 after purchasing an additional 1,708 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

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.