Lockheed Martin (NYSE:LMT) Given New $525.00 Price Target at Citigroup

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

Several other analysts have also issued reports on the stock. JPMorgan Chase & Co. raised shares of Lockheed Martin from a neutral rating to an overweight rating and upped their price target for the stock from $475.00 to $518.00 in a research report on Monday, April 15th. The Goldman Sachs Group decreased their price objective on shares of Lockheed Martin from $380.00 to $377.00 and set a sell rating on the stock in a report on Tuesday, April 23rd. Morgan Stanley decreased their price objective on shares of 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 upped their price objective on shares of Lockheed Martin from $482.00 to $499.00 and gave the company a neutral rating in a report on Wednesday. Finally, Susquehanna decreased their price objective on shares of Lockheed Martin from $550.00 to $540.00 and set a positive rating on the stock in a report on Wednesday, January 24th. One investment 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 company’s stock. According to MarketBeat.com, Lockheed Martin presently has an average rating of Hold and a consensus price target of $485.40.

Lockheed Martin Stock Performance

NYSE LMT opened at $461.29 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.03 and a debt-to-equity ratio of 2.89. The firm’s fifty day moving average price is $443.74 and its two-hundred day moving average price is $444.53. Lockheed Martin has a 1 year low of $393.77 and a 1 year high of $479.50. The firm has a market capitalization of $110.68 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 4.25 and a beta of 0.48.

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

Insider Buying and Selling

In other Lockheed Martin news, insider Gregory M. Ulmer sold 6,204 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total value of $2,675,102.76. Following the transaction, the insider now directly owns 12,604 shares of the company’s stock, valued at approximately $5,434,718.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Lockheed Martin news, insider Gregory M. Ulmer sold 6,204 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total value of $2,675,102.76. Following the transaction, the insider now directly owns 12,604 shares of the company’s stock, valued at approximately $5,434,718.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Maryanne Lavan sold 4,022 shares of the firm’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. Over the last three months, insiders have sold 16,874 shares of company stock valued at $7,249,946. 0.17% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lockheed Martin

Hedge funds have recently made changes to their positions in the stock. Herold Advisors Inc. boosted its stake in shares of Lockheed Martin by 8.6% in the 3rd quarter. Herold Advisors Inc. now owns 3,448 shares of the aerospace company’s stock valued at $1,410,000 after purchasing an additional 274 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Lockheed Martin by 3.8% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,088 shares of the aerospace company’s stock valued at $8,624,000 after purchasing an additional 770 shares in the last quarter. Alethea Capital Management LLC acquired a new stake in shares of Lockheed Martin in the 3rd quarter valued at approximately $415,000. New Mexico Educational Retirement Board boosted its stake in shares of Lockheed Martin by 6.4% in the 3rd quarter. New Mexico Educational Retirement Board now owns 11,697 shares of the aerospace company’s stock valued at $4,784,000 after purchasing an additional 700 shares in the last quarter. Finally, Gilbert & Cook Inc. boosted its stake in shares of Lockheed Martin by 22.8% in the 3rd quarter. Gilbert & Cook Inc. now owns 1,275 shares of the aerospace company’s stock valued at $521,000 after purchasing an additional 237 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

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.