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

Lockheed Martin (NYSE:LMT) had its price objective lowered by equities research analysts at Citigroup from $700.00 to $600.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the aerospace company’s stock. Citigroup’s price objective would suggest a potential upside of 20.14% from the stock’s current price.

LMT has been the subject of a number of other reports. UBS Group increased 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. Robert W. Baird lifted their target price on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Wells Fargo & Company reduced their price target on shares of 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. Royal Bank of Canada lowered their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and decreased their price target for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $577.73.

Lockheed Martin Price Performance

LMT opened at $499.41 on Tuesday. The firm’s fifty day moving average price is $502.01 and its two-hundred day moving average price is $536.51. The company has a market capitalization of $118.38 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 3.96 and a beta of 0.48. 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 has a 1 year low of $413.92 and a 1 year high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same period in the prior year, the firm posted $6.77 EPS. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, analysts anticipate that Lockheed Martin will post 26.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. lifted its stake in Lockheed Martin by 60.2% in the 2nd quarter. Sei Investments Co. now owns 71,344 shares of the aerospace company’s stock worth $33,327,000 after purchasing an additional 26,797 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Lockheed Martin by 6.0% in the second quarter. ProShare Advisors LLC now owns 33,727 shares of the aerospace company’s stock worth $15,754,000 after buying an additional 1,921 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in Lockheed Martin by 110.2% during the second quarter. Public Sector Pension Investment Board now owns 7,847 shares of the aerospace company’s stock valued at $3,665,000 after buying an additional 4,114 shares during the period. Evergreen Capital Management LLC grew its position in Lockheed Martin by 3.9% during the second quarter. Evergreen Capital Management LLC now owns 12,873 shares of the aerospace company’s stock worth $6,013,000 after buying an additional 483 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in Lockheed Martin by 82.2% in the 2nd quarter. Marshall Wace LLP now owns 183,473 shares of the aerospace company’s stock worth $85,700,000 after acquiring an additional 82,761 shares during the last quarter. 74.19% of the stock is currently 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.