Lockheed Martin (NYSE:LMT) Price Target Lowered to $377.00 at The Goldman Sachs Group

Lockheed Martin (NYSE:LMT) had its target price cut by analysts at The Goldman Sachs Group from $380.00 to $377.00 in a research note issued to investors on Tuesday. The firm presently has a “sell” rating on the aerospace company’s stock. The Goldman Sachs Group’s price target would suggest a potential downside of 18.36% from the company’s previous close.

A number of other analysts have also recently issued reports on LMT. UBS Group decreased their price target on shares of Lockheed Martin from $488.00 to $475.00 and set a “neutral” rating for the company in a research note on Wednesday, January 24th. Royal Bank of Canada decreased their price target on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Lockheed Martin from $438.00 to $472.00 in a research note on Monday, January 22nd. JPMorgan Chase & Co. raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $475.00 to $518.00 in a research note on Monday, April 15th. Finally, Citigroup decreased their price target on shares of Lockheed Martin from $540.00 to $508.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of “Hold” and a consensus target price of $475.80.

Lockheed Martin Trading Up 0.1 %

Lockheed Martin stock traded up $0.47 during trading hours on Tuesday, reaching $461.80. 464,202 shares of the company’s stock traded hands, compared to its average volume of 1,158,870. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.03 and a current ratio of 1.21. Lockheed Martin has a fifty-two week low of $393.77 and a fifty-two week high of $483.53. The firm has a market capitalization of $111.06 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 4.23 and a beta of 0.48. The firm’s 50 day moving average is $440.67 and its 200-day moving average is $443.62.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, January 23rd. The aerospace company reported $7.90 earnings per share for the quarter, beating analysts’ consensus estimates of $7.26 by $0.64. The business had revenue of $18.87 billion for the quarter, compared to the consensus estimate of $17.96 billion. Lockheed Martin had a net margin of 10.24% and a return on equity of 79.91%. Lockheed Martin’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the company posted $7.79 EPS. On average, analysts predict that Lockheed Martin will post 26.13 earnings per share for the current year.

Insider Activity at Lockheed Martin

In related news, insider Gregory M. Ulmer sold 6,204 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total value of $2,675,102.76. Following the completion of the transaction, the insider now owns 12,604 shares of the company’s stock, valued at $5,434,718.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Maryanne Lavan sold 4,022 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total value of $1,747,116.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gregory M. Ulmer sold 6,204 shares of Lockheed Martin 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 completion of the transaction, the insider now owns 12,604 shares in the company, valued at approximately $5,434,718.76. The disclosure for this sale can be found here. Insiders sold a total of 16,874 shares of company stock valued at $7,249,946 over the last quarter. 0.14% of the stock is owned by corporate insiders.

Institutional Trading of Lockheed Martin

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Triumph Capital Management lifted its stake in Lockheed Martin by 3.1% in the third quarter. Triumph Capital Management now owns 723 shares of the aerospace company’s stock valued at $296,000 after buying an additional 22 shares during the period. Abbrea Capital LLC lifted its stake in Lockheed Martin by 1.7% in the third quarter. Abbrea Capital LLC now owns 1,397 shares of the aerospace company’s stock valued at $571,000 after buying an additional 23 shares during the period. Pinnacle Wealth Planning Services Inc. lifted its stake in Lockheed Martin by 1.6% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,429 shares of the aerospace company’s stock valued at $584,000 after buying an additional 23 shares during the period. Duncker Streett & Co. Inc. lifted its stake in Lockheed Martin by 1.2% in the third quarter. Duncker Streett & Co. Inc. now owns 2,013 shares of the aerospace company’s stock valued at $823,000 after buying an additional 24 shares during the period. Finally, Hanlon Investment Management Inc. lifted its stake in Lockheed Martin by 2.7% in the third quarter. Hanlon Investment Management Inc. now owns 936 shares of the aerospace company’s stock valued at $383,000 after buying an additional 25 shares during the period. 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.