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

Lockheed Martin (NYSE:LMT - Free Report) had its price target decreased by Wells Fargo & Company from $476.00 to $432.00 in a research report released on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the aerospace company's stock.

LMT has been the subject of a number of other research reports. Bank of America cut Lockheed Martin from a "buy" rating to a "neutral" rating and reduced their target price for the company from $685.00 to $485.00 in a report on Monday, March 24th. Citigroup cut their price objective on Lockheed Martin from $700.00 to $600.00 and set a "buy" rating for the company in a research report on Tuesday, January 21st. Royal Bank of Canada cut Lockheed Martin from an "outperform" rating to a "sector perform" rating and decreased their price target for the stock from $550.00 to $480.00 in a research note on Thursday, March 27th. Melius Research downgraded shares of Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a "buy" rating to a "hold" rating and decreased their price objective for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $536.60.

Lockheed Martin Stock Performance

Shares of LMT stock traded up $11.41 during mid-day trading on Tuesday, reaching $475.11. 1,451,768 shares of the company's stock traded hands, compared to its average volume of 1,239,680. The firm has a market capitalization of $111.45 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. Lockheed Martin has a 12 month low of $418.88 and a 12 month high of $618.95. The firm has a 50 day moving average price of $450.03 and a two-hundred day moving average price of $500.71. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13.

Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) 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%. On average, research analysts forecast that Lockheed Martin will post 27.15 EPS for the current year.

Lockheed Martin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Monday, March 3rd were issued a $3.30 dividend. The ex-dividend date was Monday, March 3rd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.78%. Lockheed Martin's dividend payout ratio is presently 59.30%.

Insider Buying and Selling

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the sale, the vice president now owns 2,278 shares in the company, valued at approximately $1,008,265.58. The trade was a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the sale, the insider now directly owns 2,000 shares of the company's stock, valued at approximately $884,840. This represents a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,133 shares of company stock worth $3,155,916. 0.17% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LMT. Virtue Capital Management LLC increased its holdings in shares of Lockheed Martin by 112.8% in the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company's stock valued at $1,315,000 after acquiring an additional 1,192 shares during the period. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in Lockheed Martin by 51.7% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company's stock worth $4,630,000 after purchasing an additional 3,247 shares in the last quarter. Capital Investment Advisors LLC increased its position in Lockheed Martin by 2.2% during the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company's stock worth $44,770,000 after purchasing an additional 2,011 shares during the last quarter. Brady Martz Wealth Solutions LLC acquired a new stake in shares of Lockheed Martin during the fourth quarter valued at about $1,266,000. Finally, World Investment Advisors LLC boosted its holdings in Lockheed Martin by 55.1% during the 3rd quarter. World Investment Advisors LLC now owns 6,468 shares of the aerospace company's stock valued at $3,781,000 after acquiring an additional 2,297 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

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.