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

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

Several other equities research analysts also recently commented on LMT. Morgan Stanley dropped their target price on Lockheed Martin from $513.00 to $503.00 and set an equal weight rating on the stock in a report on Wednesday, January 24th. UBS Group raised their target price on Lockheed Martin from $482.00 to $499.00 and gave the company a neutral rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised their target price on Lockheed Martin from $438.00 to $472.00 in a report on Monday, January 22nd. The Goldman Sachs Group dropped their price objective on Lockheed Martin from $380.00 to $377.00 and set a sell rating on the stock in a report on Tuesday. Finally, Susquehanna dropped their price objective on Lockheed Martin from $550.00 to $540.00 and set a positive rating on the stock in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $485.40.

Lockheed Martin Stock Performance

NYSE LMT opened at $461.28 on Wednesday. The firm has a market capitalization of $110.68 billion, a P/E ratio of 16.88, a P/E/G ratio of 4.25 and a beta of 0.48. Lockheed Martin has a 1-year low of $393.77 and a 1-year high of $479.50. 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 business’s 50-day simple moving average is $443.74 and its 200-day simple moving average is $444.46.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data 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 business had revenue of $17.20 billion for the quarter, compared to analyst estimates of $16.04 billion. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The company’s revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the company posted $6.43 EPS. Equities analysts predict that Lockheed Martin will post 26.05 EPS for the current year.

Insider Activity

In other news, insider Gregory M. Ulmer sold 6,204 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total value of $2,675,102.76. Following the completion of the sale, the insider now directly owns 12,604 shares in the company, valued at approximately $5,434,718.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Gregory M. Ulmer sold 6,204 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total value of $2,675,102.76. Following the completion of the sale, the insider now directly owns 12,604 shares in the company, valued at approximately $5,434,718.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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. In the last ninety days, insiders sold 16,874 shares of company stock worth $7,249,946. 0.17% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Herold Advisors Inc. grew its stake in Lockheed Martin by 8.6% during the 3rd quarter. Herold Advisors Inc. now owns 3,448 shares of the aerospace company’s stock worth $1,410,000 after buying an additional 274 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Lockheed Martin by 3.8% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,088 shares of the aerospace company’s stock worth $8,624,000 after buying an additional 770 shares during the last quarter. Alethea Capital Management LLC bought a new position in Lockheed Martin during the 3rd quarter worth $415,000. New Mexico Educational Retirement Board grew its stake in shares of Lockheed Martin by 6.4% in the third quarter. New Mexico Educational Retirement Board now owns 11,697 shares of the aerospace company’s stock worth $4,784,000 after purchasing an additional 700 shares in the last quarter. Finally, Gilbert & Cook Inc. grew its stake in shares of Lockheed Martin by 22.8% in the third quarter. Gilbert & Cook Inc. now owns 1,275 shares of the aerospace company’s stock worth $521,000 after purchasing an additional 237 shares in the last quarter. 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.