The Goldman Sachs Group Lowers Lockheed Martin (NYSE:LMT) Price Target to $377.00

Lockheed Martin (NYSE:LMT) had its target price lowered by equities researchers at The Goldman Sachs Group from $380.00 to $377.00 in a research report issued on Tuesday. The firm presently has a “sell” rating on the aerospace company’s stock. The Goldman Sachs Group’s target price indicates a potential downside of 17.89% from the stock’s current price.

A number of other research analysts have also commented on the company. Citigroup cut their price target on Lockheed Martin from $540.00 to $508.00 and set a “buy” rating for the company in a report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Lockheed Martin from $438.00 to $472.00 in a report on Monday, January 22nd. UBS Group cut their price objective on shares of Lockheed Martin from $488.00 to $475.00 and set a “neutral” rating for the company in a research report on Wednesday, January 24th. Morgan Stanley decreased their target price on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada cut their price target on Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating for the company in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $479.90.

Lockheed Martin Stock Performance

NYSE:LMT opened at $459.13 on Tuesday. The firm has a market capitalization of $110.42 billion, a PE ratio of 16.67, a PEG ratio of 4.21 and a beta of 0.48. Lockheed Martin has a 1 year low of $393.77 and a 1 year high of $480.92. 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 firm’s fifty day simple moving average is $442.16 and its 200 day simple moving average is $444.14.

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

Insiders Place Their Bets

In related news, COO John Frank A. St sold 6,648 shares of the firm’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Lockheed Martin news, insider Gregory M. Ulmer sold 6,204 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the completion of the sale, the insider now directly owns 12,604 shares of the company’s stock, valued at approximately $5,434,718.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO John Frank A. St sold 6,648 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,874 shares of company stock valued at $7,249,946. Insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Lockheed Martin

Institutional investors and hedge funds have recently modified their holdings of the business. First Pacific Financial bought a new stake in shares of Lockheed Martin during the 1st quarter valued at $25,000. Altshuler Shaham Ltd acquired a new position in Lockheed Martin in the fourth quarter valued at about $26,000. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Lockheed Martin by 73.0% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 64 shares of the aerospace company’s stock valued at $26,000 after buying an additional 27 shares during the period. Activest Wealth Management boosted its holdings in Lockheed Martin by 1,200.0% during the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock worth $30,000 after buying an additional 60 shares during the last quarter. Finally, Milestone Investment Advisors LLC acquired a new position in shares of Lockheed Martin during the 3rd quarter worth about $33,000. 74.19% of the stock is owned by institutional investors.

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.