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

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

LMT has been the subject of a number of other reports. Robert W. Baird boosted their price target on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. StockNews.com cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 3rd. UBS Group reduced their price objective on 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 dropped their target price on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley reduced their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $555.60.

Lockheed Martin Stock Up 1.0 %

Shares of Lockheed Martin stock traded up $4.76 during trading hours on Thursday, hitting $459.12. 1,910,733 shares of the company’s stock traded hands, compared to its average volume of 1,449,486. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. Lockheed Martin has a twelve month low of $413.92 and a twelve month high of $618.95. The stock has a 50 day simple moving average of $495.56 and a 200-day simple moving average of $536.97. The company has a market cap of $108.83 billion, a PE ratio of 16.62, a PEG ratio of 4.05 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Equities research analysts anticipate that Lockheed Martin will post 26.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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