Lockheed Martin (NYSE:LMT) Given New $543.00 Price Target at Wells Fargo & Company

Lockheed Martin (NYSE:LMT) had its target price decreased by research analysts at Wells Fargo & Company from $602.00 to $543.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 6.56% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. UBS Group lifted their price target on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada lowered their target price on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. TD Cowen boosted their price target on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird raised their price objective on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Finally, Susquehanna reduced their target price on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $612.29.

Lockheed Martin Stock Performance

LMT stock traded down $3.39 on Wednesday, hitting $509.55. The company had a trading volume of 143,840 shares, compared to its average volume of 1,075,947. The stock has a market cap of $120.78 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 4.19 and a beta of 0.47. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The stock’s 50-day simple moving average is $561.02 and its 200 day simple moving average is $531.86. Lockheed Martin has a 12-month low of $413.92 and a 12-month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same period last year, the firm posted $6.77 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities research analysts expect that Lockheed Martin will post 26.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Lantz Financial LLC lifted its position 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 buying an additional 123 shares during the last quarter. Galvin Gaustad & Stein LLC boosted its stake in shares of Lockheed Martin by 21.1% during the 2nd quarter. Galvin Gaustad & Stein LLC now owns 602 shares of the aerospace company’s stock worth $281,000 after purchasing an additional 105 shares during the period. Silver Lake Advisory LLC purchased a new position in shares of Lockheed Martin during the 2nd quarter worth about $578,000. Triad Wealth Partners LLC grew its holdings in Lockheed Martin by 130.3% during the 2nd quarter. Triad Wealth Partners LLC now owns 1,156 shares of the aerospace company’s stock valued at $540,000 after purchasing an additional 654 shares during the last quarter. Finally, Verde Capital Management raised its position in Lockheed Martin by 45.2% in the 2nd quarter. Verde Capital Management now owns 1,269 shares of the aerospace company’s stock worth $593,000 after purchasing an additional 395 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

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.