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

Lockheed Martin (NYSE:LMT) had its price target lowered by equities researchers at Wells Fargo & Company from $476.00 to $432.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 2.16% from the company’s previous close.

Other analysts also recently issued reports about the stock. Melius downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research report on Monday, March 24th. Bank of America cut shares of Lockheed Martin from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $685.00 to $485.00 in a report on Monday, March 24th. Barclays cut their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Truist Financial began coverage on Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target for the company. Finally, Morgan Stanley cut their price objective on Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $536.60.

Lockheed Martin Stock Up 2.5 %

Shares of NYSE:LMT traded up $10.74 during midday trading on Tuesday, hitting $441.56. 2,150,841 shares of the stock were exchanged, compared to its average volume of 1,227,648. The company has a market capitalization of $103.58 billion, a PE ratio of 19.84, a P/E/G ratio of 2.07 and a beta of 0.39. Lockheed Martin has a 52-week low of $418.88 and a 52-week high of $618.95. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. The business’s fifty day simple moving average is $449.92 and its two-hundred day simple moving average is $504.66.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share for the quarter, topping analysts’ consensus estimates of $6.58 by $1.09. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. As a group, research analysts predict that Lockheed Martin will post 27.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the firm’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. This trade represents a 23.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total value of $1,421,495.46. Following the sale, the insider now owns 2,000 shares in the company, 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. Insiders sold a total of 7,133 shares of company stock valued at $3,155,916 in the last ninety days. Company insiders own 0.17% of the company’s stock.

Hedge Funds Weigh In On Lockheed Martin

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Millstone Evans Group LLC acquired a new position in Lockheed Martin in the fourth quarter worth about $32,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Lockheed Martin in the 4th quarter worth approximately $34,000. Heck Capital Advisors LLC bought a new position in shares of Lockheed Martin during the 4th quarter worth approximately $35,000. Redwood Park Advisors LLC acquired a new stake in Lockheed Martin in the 4th quarter valued at $40,000. Finally, Runnymede Capital Advisors Inc. bought a new stake in Lockheed Martin in the fourth quarter valued at $42,000. 74.19% of the stock is owned by institutional investors.

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.