Royal Bank of Canada Lowers Lockheed Martin (NYSE:LMT) Price Target to $550.00

Lockheed Martin (NYSE:LMT) had its target price reduced by equities researchers at Royal Bank of Canada from $570.00 to $550.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the aerospace company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 21.24% from the stock’s current price.

A number of other equities research analysts also recently weighed in on LMT. Barclays dropped their target price on 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. Morgan Stanley reduced their price target on shares of Lockheed Martin from $555.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Citigroup cut their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Susquehanna lowered their target price on Lockheed Martin from $590.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company decreased their price objective on Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $556.13.

Lockheed Martin Stock Down 0.8 %

Shares of Lockheed Martin stock traded down $3.81 during midday trading on Wednesday, hitting $453.64. The company’s stock had a trading volume of 1,055,450 shares, compared to its average volume of 1,346,853. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. Lockheed Martin has a 1-year low of $413.92 and a 1-year high of $618.95. The stock has a 50-day simple moving average of $497.18 and a 200-day simple moving average of $537.55. The firm has a market capitalization of $107.53 billion, a P/E ratio of 16.42, a PEG ratio of 4.05 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, January 28th. The aerospace company reported $7.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.58 by $1.09. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. As a group, sell-side analysts expect that Lockheed Martin will post 26.89 earnings per share for the current year.

Institutional Investors Weigh In On Lockheed Martin

A number of institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in Lockheed Martin by 1.8% during the third quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock worth $2,816,898,000 after purchasing an additional 83,997 shares during the last quarter. FMR LLC boosted its position in Lockheed Martin by 6.6% during the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after purchasing an additional 209,591 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Lockheed Martin by 8.5% in the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after acquiring an additional 240,306 shares during the period. International Assets Investment Management LLC increased its position in shares of Lockheed Martin by 60,592.0% during the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after buying an additional 1,556,609 shares during the period. Finally, Bank of Montreal Can grew its position in shares of Lockheed Martin by 2.1% during the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after purchasing an additional 13,253 shares in the last quarter. Institutional investors 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.