Lockheed Martin (NYSE:LMT) Price Target Cut to $600.00 by Analysts at Citigroup

Lockheed Martin (NYSE:LMT) had its target price reduced by Citigroup from $700.00 to $600.00 in a report released on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the aerospace company’s stock.

A number of other brokerages also recently issued reports on LMT. Deutsche Bank Aktiengesellschaft downgraded 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. Wells Fargo & Company lowered their target price on shares of Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. UBS Group increased their target price on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. TD Cowen lifted their price target on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Susquehanna dropped their price objective on Lockheed Martin from $695.00 to $590.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $577.73.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $506.57 on Tuesday. The firm has a market cap of $120.07 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 3.96 and a beta of 0.48. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. Lockheed Martin has a 52 week low of $413.92 and a 52 week high of $618.95. The business’s fifty day simple moving average is $503.20 and its 200-day simple moving average is $536.20.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period last year, the business posted $6.77 EPS. Lockheed Martin’s revenue for the quarter was up 1.3% on a year-over-year basis. Equities analysts forecast that Lockheed Martin will post 26.8 earnings per share for the current year.

Institutional Trading of Lockheed Martin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its stake in shares of Lockheed Martin by 2.1% during the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after purchasing an additional 13,253 shares during the last quarter. Virtue Capital Management LLC boosted its position in Lockheed Martin by 112.8% during the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock worth $1,315,000 after acquiring an additional 1,192 shares during the last quarter. Hilltop Holdings Inc. grew its stake in Lockheed Martin by 79.9% in the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after acquiring an additional 5,361 shares during the period. Capital Investment Advisors LLC grew its stake in Lockheed Martin by 2.2% in the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock worth $44,770,000 after acquiring an additional 2,011 shares during the period. Finally, Old West Investment Management LLC raised its holdings in Lockheed Martin by 6.6% in the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after acquiring an additional 1,643 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

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.