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

Lockheed Martin (NYSE:LMT) had its target price hoisted by research analysts at Citigroup from $508.00 to $525.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the aerospace company’s stock. Citigroup’s target price suggests a potential upside of 14.07% from the company’s current price.

Other analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Lockheed Martin from $438.00 to $472.00 in a research report on Monday, January 22nd. JPMorgan Chase & Co. raised Lockheed Martin from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $475.00 to $518.00 in a research report on Monday, April 15th. Morgan Stanley reduced 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. The Goldman Sachs Group reduced 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. Finally, Royal Bank of Canada reduced their price target on Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Lockheed Martin currently has a consensus rating of “Hold” and a consensus target price of $479.90.

Lockheed Martin Price Performance

Shares of NYSE LMT traded up $0.17 during mid-day trading on Wednesday, reaching $460.25. The company had a trading volume of 571,560 shares, compared to its average volume of 1,168,990. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 2.53. The stock has a market cap of $110.69 billion, a PE ratio of 16.72, a P/E/G ratio of 4.21 and a beta of 0.48. The company has a 50-day moving average price of $441.34 and a two-hundred day moving average price of $444.04. Lockheed Martin has a 1-year low of $393.77 and a 1-year high of $480.92.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 EPS for the quarter, topping the consensus estimate of $5.80 by $0.53. The business had revenue of $17.20 billion during the quarter, compared to analysts’ expectations of $16.04 billion. Lockheed Martin had a return on equity of 79.91% and a net margin of 10.24%. Lockheed Martin’s revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the firm posted $6.43 earnings per share. On average, equities analysts anticipate that Lockheed Martin will post 26.13 earnings per share for the current year.

Insider Activity at Lockheed Martin

In other news, COO John Frank A. St sold 6,648 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, COO John Frank A. St sold 6,648 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Maryanne Lavan sold 4,022 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The disclosure for this sale can be found here. Insiders have sold 16,874 shares of company stock worth $7,249,946 over the last three months. Company insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of 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 acquiring an additional 279,162 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Lockheed Martin by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,686,937 shares of the aerospace company’s stock valued at $2,302,388,000 after acquiring an additional 97,916 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Lockheed Martin by 4.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,158,783 shares of the aerospace company’s stock valued at $1,291,816,000 after buying an additional 121,358 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Lockheed Martin by 14.9% in 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 buying an additional 336,588 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Lockheed Martin by 4.0% in the 3rd quarter. Northern Trust Corp now owns 2,388,377 shares of the aerospace company’s stock valued at $976,751,000 after buying an additional 91,109 shares in the last quarter. 74.19% of the stock is owned by institutional investors and hedge funds.

About Lockheed Martin

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.