Lockheed Martin (NYSE:LMT) Given New $468.00 Price Target at Wells Fargo & Company

Lockheed Martin (NYSE:LMT) had its price objective lowered by research analysts at Wells Fargo & Company from $497.00 to $468.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 5.38% from the company’s previous close.

Several other research firms have also weighed in on LMT. Citigroup lowered their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Royal Bank of Canada lowered their price target on Lockheed Martin from $570.00 to $550.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley cut 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, January 29th. Barclays lowered their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Finally, Truist Financial assumed coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average target price of $553.67.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $444.10 on Wednesday. Lockheed Martin has a twelve month low of $419.70 and a twelve month high of $618.95. The business has a 50 day moving average price of $468.06 and a 200 day moving average price of $527.23. The company has a market cap of $104.53 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 2.07 and a beta of 0.48. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, beating 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%. Research analysts predict that Lockheed Martin will post 27.15 earnings per share for the current year.

Institutional Investors Weigh In On Lockheed Martin

Institutional investors have recently bought and sold shares of the company. Proficio Capital Partners LLC grew its position in Lockheed Martin by 53,784.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,235,568 shares of the aerospace company’s stock valued at $600,412,000 after purchasing an additional 1,233,275 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Lockheed Martin by 17.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,471,071 shares of the aerospace company’s stock valued at $3,630,492,000 after purchasing an additional 1,132,461 shares in the last quarter. Castlekeep Investment Advisors LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at about $526,587,000. Leigh Baldwin & CO. LLC bought a new stake in shares of Lockheed Martin during the 4th quarter worth about $451,985,000. Finally, Van ECK Associates Corp boosted its holdings in shares of Lockheed Martin by 1,239.6% during the fourth quarter. Van ECK Associates Corp now owns 548,237 shares of the aerospace company’s stock worth $266,410,000 after acquiring an additional 507,312 shares during the period. 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.