Wells Fargo & Company Cuts Lockheed Martin (NYSE:LMT) Price Target to $468.00

Lockheed Martin (NYSE:LMT) had its target price lowered by Wells Fargo & Company from $497.00 to $468.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the aerospace company’s stock.

A number of other analysts have also commented on the company. JPMorgan Chase & Co. reduced their target price on Lockheed Martin from $540.00 to $535.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Truist Financial started coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. Royal Bank of Canada dropped their price target on shares of Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Barclays decreased their price objective 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. Finally, Morgan Stanley lowered their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $553.67.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $450.19 on Wednesday. Lockheed Martin has a 1 year low of $419.70 and a 1 year high of $618.95. The firm’s 50-day moving average is $465.79 and its 200 day moving average is $525.34. The stock has a market cap of $105.97 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 2.07 and a beta of 0.48. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. Sell-side analysts anticipate that Lockheed Martin will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a dividend of $3.30 per share. This represents a $13.20 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Monday, March 3rd. Lockheed Martin’s dividend payout ratio is presently 59.30%.

Insiders Place Their Bets

In related news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the completion of the transaction, the insider now owns 2,000 shares of the company’s stock, valued at approximately $884,840. This represents a 61.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Harry Edward Paul III sold 707 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the sale, the vice president now directly owns 2,278 shares in the company, valued at approximately $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,133 shares of company stock worth $3,155,916 over the last quarter. 0.17% of the stock is currently owned by corporate insiders.

Institutional Trading of Lockheed Martin

Several institutional investors have recently made changes to their positions in the business. Sunburst Financial Group LLC boosted its stake in Lockheed Martin by 3.3% in the 3rd quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock worth $331,000 after purchasing an additional 18 shares during the period. Lmcg Investments LLC lifted its holdings in shares of Lockheed Martin by 3.0% in the third quarter. Lmcg Investments LLC now owns 651 shares of the aerospace company’s stock worth $381,000 after buying an additional 19 shares in the last quarter. Klingman & Associates LLC boosted its position in shares of Lockheed Martin by 1.1% during the third quarter. Klingman & Associates LLC now owns 1,729 shares of the aerospace company’s stock worth $1,011,000 after acquiring an additional 19 shares during the last quarter. Platform Technology Partners grew its stake in Lockheed Martin by 0.5% during the third quarter. Platform Technology Partners now owns 4,122 shares of the aerospace company’s stock valued at $2,409,000 after acquiring an additional 19 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in Lockheed Martin by 1.3% in the 3rd quarter. Assetmark Inc. now owns 1,470 shares of the aerospace company’s stock valued at $859,000 after acquiring an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

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.