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

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

Several other equities research analysts have also recently weighed in on LMT. Susquehanna decreased their price target on Lockheed Martin from $550.00 to $540.00 and set a positive rating on the stock in a research report on Wednesday, January 24th. Royal Bank of Canada decreased their price target on Lockheed Martin from $475.00 to $470.00 and set a sector perform rating on the stock in a research report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft upped their price target on Lockheed Martin from $438.00 to $472.00 in a research report on Monday, January 22nd. UBS Group upped their price target on Lockheed Martin from $482.00 to $499.00 and gave the company a neutral rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. upgraded Lockheed Martin from a neutral rating to an overweight rating and upped their price target for the company from $475.00 to $518.00 in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $485.40.

Lockheed Martin Price Performance

NYSE LMT opened at $461.29 on Wednesday. The company has a market cap of $110.68 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 4.25 and a beta of 0.48. Lockheed Martin has a 52 week low of $393.77 and a 52 week high of $479.50. The company has a quick ratio of 1.03, a current ratio of 1.30 and a debt-to-equity ratio of 2.89. The firm’s 50-day simple moving average is $443.74 and its two-hundred day simple moving average is $444.53.

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

Insider Buying and Selling

In related news, SVP Maryanne Lavan sold 4,022 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Lockheed Martin news, insider Gregory M. Ulmer sold 6,204 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the transaction, the insider now directly owns 12,604 shares in the company, valued at $5,434,718.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maryanne Lavan sold 4,022 shares of the stock in a transaction that occurred on 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 worth $7,249,946. Insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GHP Investment Advisors Inc. boosted its stake in shares of Lockheed Martin by 33.8% during the third quarter. GHP Investment Advisors Inc. now owns 1,887 shares of the aerospace company’s stock valued at $832,000 after purchasing an additional 477 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Lockheed Martin by 4.0% during the third quarter. Exchange Traded Concepts LLC now owns 17,157 shares of the aerospace company’s stock valued at $7,017,000 after purchasing an additional 663 shares during the period. Caprock Group LLC boosted its stake in shares of Lockheed Martin by 1.5% during the third quarter. Caprock Group LLC now owns 1,746 shares of the aerospace company’s stock valued at $714,000 after purchasing an additional 26 shares during the period. ARK Investment Management LLC boosted its stake in shares of Lockheed Martin by 11.6% during the third quarter. ARK Investment Management LLC now owns 30,508 shares of the aerospace company’s stock valued at $12,477,000 after purchasing an additional 3,166 shares during the period. Finally, CX Institutional boosted its stake in shares of Lockheed Martin by 202.3% during the third quarter. CX Institutional now owns 14,566 shares of the aerospace company’s stock valued at $5,957,000 after purchasing an additional 9,747 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.