Wells Fargo & Company Issues Pessimistic Forecast for Lockheed Martin (NYSE:LMT) Stock Price

Lockheed Martin (NYSE:LMT - Get Free Report) had its target price cut by equities researchers at Wells Fargo & Company from $497.00 to $468.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the aerospace company's stock. Wells Fargo & Company's price target would suggest a potential upside of 5.99% from the company's current price.

Several other research analysts also recently weighed in on LMT. Citigroup cut their price target on Lockheed Martin from $700.00 to $600.00 and set a "buy" rating for the company in a research note on Tuesday, January 21st. Royal Bank of Canada reduced their target price 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. Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a "buy" rating to a "hold" rating and cut their target price for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. Truist Financial initiated 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. Finally, Morgan Stanley reduced their price objective on shares of Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Lockheed Martin presently has an average rating of "Moderate Buy" and an average target price of $553.67.

Lockheed Martin Trading Down 1.5 %

NYSE LMT traded down $6.90 during mid-day trading on Wednesday, reaching $441.56. 1,466,875 shares of the stock were exchanged, compared to its average volume of 1,581,871. Lockheed Martin has a one year low of $419.70 and a one year high of $618.95. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The stock has a 50 day simple moving average of $468.06 and a 200-day simple moving average of $527.23. The stock has a market cap of $103.94 billion, a P/E ratio of 19.84, a P/E/G ratio of 2.07 and a beta of 0.48.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 EPS for the quarter, beating the consensus estimate of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. On average, analysts anticipate that Lockheed Martin will post 27.15 EPS for the current year.

Institutional Investors Weigh In On Lockheed Martin

A number of hedge funds and other institutional investors have recently modified their holdings of LMT. abrdn plc boosted its position in shares of Lockheed Martin by 14.8% in the 3rd quarter. abrdn plc now owns 21,036 shares of the aerospace company's stock worth $12,240,000 after buying an additional 2,707 shares in the last quarter. Nicholas Hoffman & Company LLC. lifted its holdings in shares of Lockheed Martin by 3.3% in the third quarter. Nicholas Hoffman & Company LLC. now owns 3,014 shares of the aerospace company's stock valued at $1,762,000 after purchasing an additional 95 shares in the last quarter. Childress Capital Advisors LLC grew its position in shares of Lockheed Martin by 3.9% in the third quarter. Childress Capital Advisors LLC now owns 823 shares of the aerospace company's stock valued at $481,000 after purchasing an additional 31 shares during the last quarter. Avitas Wealth Management LLC increased its stake in shares of Lockheed Martin by 1.0% during the 3rd quarter. Avitas Wealth Management LLC now owns 5,285 shares of the aerospace company's stock worth $3,089,000 after purchasing an additional 51 shares in the last quarter. Finally, Walter & Keenan Wealth Management LLC IN ADV grew its holdings in Lockheed Martin by 1.4% during the 3rd quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 1,629 shares of the aerospace company's stock valued at $952,000 after buying an additional 23 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.