Lockheed Martin (NYSE:LMT) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Lockheed Martin (NYSE:LMT) had its price objective hoisted by Wells Fargo & Company from $600.00 to $700.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the aerospace company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 9.79% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. TD Cowen decreased their target price on shares of Lockheed Martin from $600.00 to $570.00 and set a “hold” rating on the stock in a research note on Friday, October 9th. Wall Street Zen cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 17th. Citigroup increased their price target on Lockheed Martin from $691.00 to $706.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Sanford C. Bernstein cut their price objective on Lockheed Martin from $629.00 to $564.00 and set a “market perform” rating on the stock in a report on Wednesday, October 14th. Finally, Barclays boosted their price objective on Lockheed Martin from $554.00 to $560.00 and gave the stock an “equal weight” rating in a research report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $642.81.

Lockheed Martin Trading Up 0.1%

LMT opened at $637.60 on Monday. The company has a market cap of $147.29 billion, a P/E ratio of 22.65, a PEG ratio of 1.35 and a beta of 0.09. The company has a current ratio of 1.26, a quick ratio of 1.10 and a debt-to-equity ratio of 2.04. The company’s 50 day moving average is $544.17 and its 200-day moving average is $568.87. Lockheed Martin has a 1-year low of $437.25 and a 1-year high of $692.00.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Thursday, October 22nd. The aerospace company reported $7.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.52 by $0.45. The business had revenue of $20.71 billion during the quarter, compared to analysts’ expectations of $20.48 billion. Lockheed Martin had a net margin of 8.23% and a return on equity of 83.41%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company earned $6.95 EPS. Equities research analysts predict that Lockheed Martin will post 30.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lockheed Martin

Several institutional investors and hedge funds have recently added to or reduced their stakes in LMT. Trek Financial LLC lifted its holdings in shares of Lockheed Martin by 1.2% during the third quarter. Trek Financial LLC now owns 1,405 shares of the aerospace company’s stock worth $715,000 after purchasing an additional 16 shares during the period. Cahaba Wealth Management Inc. increased its holdings in Lockheed Martin by 3.2% in the third quarter. Cahaba Wealth Management Inc. now owns 542 shares of the aerospace company’s stock valued at $276,000 after purchasing an additional 17 shares during the period. Third View Private Wealth LLC increased its holdings in Lockheed Martin by 2.0% in the third quarter. Third View Private Wealth LLC now owns 886 shares of the aerospace company’s stock valued at $451,000 after purchasing an additional 17 shares during the period. Beacon Capital Management LLC raised its position in Lockheed Martin by 4.5% during the 2nd quarter. Beacon Capital Management LLC now owns 442 shares of the aerospace company’s stock worth $225,000 after purchasing an additional 19 shares during the last quarter. Finally, YANKCOM Partnership raised its position in Lockheed Martin by 0.7% during the 3rd quarter. YANKCOM Partnership now owns 2,575 shares of the aerospace company’s stock worth $1,311,000 after purchasing an additional 19 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 is a global security and aerospace company headquartered in Bethesda, Maryland. Formed in 1995 through the merger of Lockheed Corporation and Martin Marietta, the company develops and produces advanced defense, aerospace, and technology systems for government and commercial customers.

Its principal business areas include Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. Products and services include military aircraft such as the F-35 Lightning II, C-130 Hercules, and F-16 Fighting Falcon; missile-defense and precision-strike systems; helicopters and naval systems; command, control, communications, and intelligence technologies; satellites; space exploration systems; and other classified space and defense programs.

Lockheed Martin serves the U.S.