Citigroup Increases Lockheed Martin (NYSE:LMT) Price Target to $525.00

Lockheed Martin (NYSE:LMT) had its target price raised by research analysts at Citigroup from $508.00 to $525.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the aerospace company’s stock. Citigroup’s price target points to a potential upside of 12.86% from the stock’s previous close.

Several other research firms have also issued reports on LMT. The Goldman Sachs Group lowered their price target on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research report on Tuesday. Susquehanna lowered their price target on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a research report on Wednesday, January 24th. UBS Group lifted their price target on Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a research report on Wednesday. Morgan Stanley lowered their price target on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. raised Lockheed Martin from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $475.00 to $518.00 in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $485.40.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $465.19 on Wednesday. Lockheed Martin has a 12 month low of $393.77 and a 12 month high of $479.50. The stock has a market cap of $111.87 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 4.21 and a beta of 0.48. The company has a current ratio of 1.30, a quick ratio of 1.03 and a debt-to-equity ratio of 2.89. The company’s fifty day moving average price is $443.00 and its 200-day moving average price is $444.29.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 EPS for the quarter, beating analysts’ consensus estimates of $5.80 by $0.53. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The firm had revenue of $17.20 billion for the quarter, compared to analysts’ expectations of $16.04 billion. During the same quarter in the previous year, the business posted $6.43 EPS. The company’s quarterly revenue was up 13.7% on a year-over-year basis. On average, equities analysts expect that Lockheed Martin will post 26.04 EPS for the current fiscal year.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total transaction of $1,747,116.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total transaction of $1,747,116.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO John Frank A. St sold 6,648 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $425.35, for a total value of $2,827,726.80. The disclosure for this sale can be found here. Insiders sold a total of 16,874 shares of company stock worth $7,249,946 in the last three months. 0.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LMT. International Assets Investment Management LLC grew its stake in shares of Lockheed Martin by 10,526.6% during the 4th quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock valued at $617,416,000 after acquiring an additional 1,349,409 shares during the period. Franklin Resources Inc. grew its stake in shares of Lockheed Martin by 14.9% during the 4th quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after acquiring an additional 336,588 shares during the period. Confluence Investment Management LLC bought a new position in shares of Lockheed Martin during the 1st quarter valued at approximately $151,402,000. Vanguard Group Inc. boosted its stake in Lockheed Martin by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock worth $9,120,920,000 after purchasing an additional 279,162 shares during the period. Finally, Corient Private Wealth LLC boosted its stake in Lockheed Martin by 91.8% in the 4th quarter. Corient Private Wealth LLC now owns 574,017 shares of the aerospace company’s stock worth $260,169,000 after purchasing an additional 274,680 shares during the period. 74.19% of the stock is currently 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.