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

Lockheed Martin (NYSE:LMT) had its price objective lowered by Citigroup from $700.00 to $600.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the aerospace company’s stock.

A number of other research firms also recently commented on LMT. JPMorgan Chase & Co. decreased their price objective on shares of Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Royal Bank of Canada decreased their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Wells Fargo & Company dropped their price objective on shares of Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and decreased their target price for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. Finally, Truist Financial assumed coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $577.73.

Lockheed Martin Trading Up 3.3 %

LMT opened at $506.57 on Tuesday. Lockheed Martin has a 12-month low of $413.92 and a 12-month high of $618.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The stock has a market capitalization of $120.07 billion, a PE ratio of 18.34, a P/E/G ratio of 3.96 and a beta of 0.48. The firm’s fifty day moving average price is $503.20 and its 200 day moving average price is $536.20.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the prior year, the business posted $6.77 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, research analysts expect that Lockheed Martin will post 26.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LMT. Itau Unibanco Holding S.A. acquired a new position in shares of Lockheed Martin in the 3rd quarter worth $26,000. Mattson Financial Services LLC acquired a new position in shares of Lockheed Martin in the 2nd quarter valued at $27,000. Burkett Financial Services LLC purchased a new position in Lockheed Martin in the 3rd quarter worth about $32,000. Capital Performance Advisors LLP acquired a new stake in Lockheed Martin during the 3rd quarter worth about $40,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Lockheed Martin during the third quarter valued at about $42,000. Institutional investors 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.