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

Lockheed Martin (NYSE:LMT - Get Free Report) had its price objective dropped by Citigroup from $700.00 to $600.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the aerospace company's stock. Citigroup's target price would suggest a potential upside of 18.44% from the company's current price.

LMT has been the subject of several other research reports. Truist Financial assumed coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a "buy" rating and a $579.00 price target for the company. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating and reduced their price target for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Susquehanna reduced their price target on shares of Lockheed Martin from $695.00 to $590.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. UBS Group raised their price target on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. Finally, TD Cowen raised their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $577.73.

Lockheed Martin Stock Up 3.3 %

LMT traded up $16.25 on Tuesday, hitting $506.57. The company had a trading volume of 1,614,033 shares, compared to its average volume of 1,188,400. 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 52-week low of $413.92 and a 52-week high of $618.95. The stock has a fifty day simple moving average of $503.20 and a 200-day simple moving average of $536.20. The firm has a market capitalization of $120.07 billion, a P/E ratio of 18.34, a P/E/G ratio of 3.96 and a beta of 0.48.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share 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 during the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter last year, the firm earned $6.77 earnings per share. The business's revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities analysts expect that Lockheed Martin will post 26.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC lifted its stake in shares of Lockheed Martin by 60,592.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company's stock valued at $911,433,000 after buying an additional 1,556,609 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in Lockheed Martin by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company's stock valued at $263,561,000 after acquiring an additional 249,591 shares during the last quarter. Wellington Management Group LLP increased its holdings in Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company's stock valued at $1,797,437,000 after acquiring an additional 240,306 shares during the last quarter. FMR LLC increased its holdings in Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company's stock valued at $1,981,088,000 after acquiring an additional 209,591 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Lockheed Martin by 14.9% in the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company's stock valued at $646,828,000 after acquiring an additional 180,074 shares during the last quarter. Hedge funds and other 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.