Citigroup Cuts Lockheed Martin (NYSE:LMT) Price Target to $600.00

Lockheed Martin (NYSE:LMT) had its price target decreased by Citigroup from $700.00 to $600.00 in a research report report published on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the aerospace company’s stock.

Other research analysts have also issued reports about the stock. Barclays decreased their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Truist Financial started coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target for the company. Robert W. Baird lifted their price objective on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Wells Fargo & Company decreased their target price on Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. Finally, UBS Group lifted their price target on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $577.73.

Lockheed Martin Trading Down 0.5 %

LMT opened at $496.93 on Tuesday. The firm has a market capitalization of $117.79 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 4.11 and a beta of 0.48. Lockheed Martin has a one year low of $413.92 and a one year high of $618.95. The business has a 50 day simple moving average of $500.84 and a two-hundred day simple moving average of $536.25. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.77 earnings per share. Analysts predict that Lockheed Martin will post 26.81 EPS 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 company. Heck Capital Advisors LLC bought a new position in Lockheed Martin during the fourth quarter valued at approximately $35,000. Austin Private Wealth LLC increased its stake in Lockheed Martin by 11.3% in the fourth quarter. Austin Private Wealth LLC now owns 1,142 shares of the aerospace company’s stock worth $555,000 after purchasing an additional 116 shares during the period. Caprock Group LLC lifted its holdings in Lockheed Martin by 3.3% during the 4th quarter. Caprock Group LLC now owns 7,487 shares of the aerospace company’s stock valued at $3,639,000 after buying an additional 238 shares in the last quarter. Hamilton Point Investment Advisors LLC boosted its holdings in shares of Lockheed Martin by 2.2% in the fourth quarter. Hamilton Point Investment Advisors LLC now owns 1,050 shares of the aerospace company’s stock valued at $510,000 after purchasing an additional 23 shares during the period. Finally, Sonora Investment Management Group LLC grew its position in shares of Lockheed Martin by 1.1% during the 4th quarter. Sonora Investment Management Group LLC now owns 38,902 shares of the aerospace company’s stock worth $18,904,000 after buying an additional 440 shares in the last quarter. Hedge funds and other 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.