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

Lockheed Martin (NYSE:LMT) had its target price hoisted by Citigroup from $508.00 to $525.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the aerospace company’s stock.

LMT has been the subject of several other research reports. Morgan Stanley cut their price target on shares of Lockheed Martin from $513.00 to $503.00 and set an equal weight rating for the company in a report on Wednesday, January 24th. JPMorgan Chase & Co. raised shares of 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 report on Monday, April 15th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Lockheed Martin from $438.00 to $472.00 in a report on Monday, January 22nd. Royal Bank of Canada lowered their target price on shares of Lockheed Martin from $475.00 to $470.00 and set a sector perform rating on the stock in a research note on Wednesday, January 24th. Finally, The Goldman Sachs Group lowered their target price on shares of Lockheed Martin from $380.00 to $377.00 and set a sell rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $485.40.

Lockheed Martin Price Performance

NYSE:LMT opened at $461.28 on Wednesday. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.03. The firm has a market cap of $110.68 billion, a price-to-earnings ratio of 16.88, a price-to-earnings-growth ratio of 4.25 and a beta of 0.48. The company has a 50 day moving average price of $443.74 and a 200-day moving average price of $444.46. Lockheed Martin has a 1-year low of $393.77 and a 1-year high of $479.50.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, beating the consensus estimate of $5.80 by $0.53. The firm had revenue of $17.20 billion during the quarter, compared to analyst estimates of $16.04 billion. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The business’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the firm earned $6.43 EPS. Equities research analysts forecast that Lockheed Martin will post 26.05 EPS for the current year.

Insider Activity

In other news, COO John Frank A. St sold 6,648 shares of the business’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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Lockheed Martin news, 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 value of $2,827,726.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Maryanne Lavan sold 4,022 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total transaction of $1,747,116.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,874 shares of company stock valued at $7,249,946. 0.17% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of LMT. First Pacific Financial acquired a new position in Lockheed Martin in the first quarter valued at about $25,000. Bank Julius Baer & Co. Ltd Zurich increased its stake in Lockheed Martin by 73.0% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 64 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 27 shares during the period. Altshuler Shaham Ltd purchased a new stake in Lockheed Martin during the fourth quarter worth about $26,000. Activest Wealth Management increased its stake 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 purchasing an additional 60 shares during the period. Finally, Milestone Investment Advisors LLC purchased a new stake in Lockheed Martin during the third quarter worth about $33,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

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.