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

Lockheed Martin (NYSE:LMT - Get Free Report) had its price target decreased by analysts at Wells Fargo & Company from $497.00 to $468.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the aerospace company's stock. Wells Fargo & Company's price target would indicate a potential upside of 3.96% from the stock's current price.

Several other equities analysts also recently commented on the stock. Truist Financial initiated coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a "buy" rating and a $579.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on shares of Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. Royal Bank of Canada reduced their target price on shares of Lockheed Martin from $570.00 to $550.00 and set an "outperform" rating for the company in a research report on Wednesday, January 29th. Barclays reduced their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating for the company in a research report on Monday, January 6th. Finally, Morgan Stanley reduced their target price on shares of Lockheed Martin from $555.00 to $525.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $553.67.

Lockheed Martin Stock Performance

Shares of NYSE:LMT traded up $3.73 on Wednesday, hitting $450.19. The company had a trading volume of 1,432,091 shares, compared to its average volume of 1,574,859. Lockheed Martin has a 1-year low of $419.70 and a 1-year high of $618.95. The stock has a market cap of $105.97 billion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 2.07 and a beta of 0.48. The stock has a 50 day moving average price of $465.79 and a 200 day moving average price of $525.10. The company has a current ratio of 1.13, a quick ratio of 0.95 and a debt-to-equity ratio of 3.10.

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 net margin of 7.51% and a return on equity of 101.47%. Analysts expect that Lockheed Martin will post 27.15 EPS for the current year.

Insider Transactions at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was 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 $884,840. This represents a 61.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total value of $312,925.27. Following the completion of the transaction, the vice president now directly owns 2,278 shares of the company's stock, valued at $1,008,265.58. This represents a 23.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,133 shares of company stock valued at $3,155,916. 0.17% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. abrdn plc increased its position in Lockheed Martin by 14.8% during the 3rd quarter. abrdn plc now owns 21,036 shares of the aerospace company's stock valued at $12,240,000 after purchasing an additional 2,707 shares during the period. Nicholas Hoffman & Company LLC. increased its position in Lockheed Martin by 3.3% during the 3rd 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 during the period. Childress Capital Advisors LLC increased its position in Lockheed Martin by 3.9% during the 3rd 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 period. Avitas Wealth Management LLC increased its position in Lockheed Martin by 1.0% during the 3rd quarter. Avitas Wealth Management LLC now owns 5,285 shares of the aerospace company's stock valued at $3,089,000 after purchasing an additional 51 shares during the period. Finally, Walter & Keenan Wealth Management LLC IN ADV increased its position 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 purchasing an additional 23 shares during the period. Institutional investors and hedge funds 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.