Lockheed Martin (NYSE:LMT) Price Target Cut to $497.00 by Analysts at Wells Fargo & Company

Lockheed Martin (NYSE:LMT) had its target price reduced by Wells Fargo & Company from $500.00 to $497.00 in a research report report published on Thursday,Benzinga reports. They currently have an equal weight rating on the aerospace company’s stock.

Several other equities analysts have also commented on the stock. UBS Group dropped their price target on shares of Lockheed Martin from $527.00 to $508.00 and set a “neutral” rating for the company in a research report on Wednesday. Morgan Stanley dropped their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating for the company in a report on Wednesday. Citigroup reduced their target price on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, January 21st. TD Cowen upped their price target on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com lowered Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus target price of $555.60.

Lockheed Martin Price Performance

LMT stock opened at $459.12 on Thursday. The stock has a market capitalization of $108.83 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. 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 52-week low of $413.92 and a 52-week high of $618.95. The stock’s fifty day simple moving average is $495.56 and its 200-day simple moving average is $536.97.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping 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 expect that Lockheed Martin will post 26.89 EPS for the current year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Monday, March 3rd will be issued a $3.30 dividend. The ex-dividend date is Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a yield of 2.88%. Lockheed Martin’s dividend payout ratio is currently 47.79%.

Institutional Trading of Lockheed Martin

Large investors have recently modified their holdings of the business. Valmark Advisers Inc. increased its holdings in Lockheed Martin by 3.9% during the 4th quarter. Valmark Advisers Inc. now owns 3,887 shares of the aerospace company’s stock worth $1,889,000 after purchasing an additional 147 shares during the last quarter. MOKAN Wealth Management Inc. acquired a new stake in Lockheed Martin in the fourth quarter valued at $1,773,000. Strategic Financial Concepts LLC bought a new position in Lockheed Martin during the 4th quarter valued at $233,000. Allworth Financial LP grew its holdings in Lockheed Martin by 23.8% during the 4th quarter. Allworth Financial LP now owns 17,228 shares of the aerospace company’s stock worth $8,603,000 after acquiring an additional 3,317 shares in the last quarter. Finally, Principal Securities Inc. increased its position in shares of Lockheed Martin by 5.1% in the 4th quarter. Principal Securities Inc. now owns 9,354 shares of the aerospace company’s stock worth $4,546,000 after purchasing an additional 450 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

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.