Citigroup Boosts Lockheed Martin (NYSE:LMT) Price Target to $525.00

Lockheed Martin (NYSE:LMT - Free Report) had its price target upped by Citigroup from $508.00 to $525.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the aerospace company's stock.

Several other equities analysts also recently commented on the stock. Susquehanna cut their price target 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. Royal Bank of Canada dropped their target price on shares of Lockheed Martin from $475.00 to $470.00 and set a sector perform rating on the stock in a research note on Wednesday, January 24th. Morgan Stanley dropped their target price on shares of Lockheed Martin from $513.00 to $503.00 and set an equal weight rating on the stock in a research note on Wednesday, January 24th. The Goldman Sachs Group dropped their price objective on shares of Lockheed Martin from $380.00 to $377.00 and set a sell rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. upgraded shares of Lockheed Martin from a neutral rating to an overweight rating and increased their price objective for the company from $475.00 to $518.00 in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $479.90.

Lockheed Martin Price Performance

Shares of NYSE LMT traded down $0.95 during mid-day trading on Wednesday, hitting $459.13. 1,018,454 shares of the company's stock traded hands, compared to its average volume of 1,174,945. The company's 50-day moving average is $442.16 and its two-hundred day moving average is $444.14. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.21 and a quick ratio of 1.03. The company has a market capitalization of $110.42 billion, a P/E ratio of 16.67, a PEG ratio of 4.21 and a beta of 0.48. Lockheed Martin has a 1 year low of $393.77 and a 1 year high of $480.92.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.53. The firm had revenue of $17.20 billion for the quarter, compared to analysts' expectations of $16.04 billion. Lockheed Martin had a net margin of 10.24% and a return on equity of 79.91%. The business's revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the company earned $6.43 EPS. On average, equities analysts anticipate that Lockheed Martin will post 26.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lockheed Martin news, insider Gregory M. Ulmer sold 6,204 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $5,434,718.76. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Lockheed Martin news, insider Gregory M. Ulmer sold 6,204 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $5,434,718.76. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Maryanne Lavan sold 4,022 shares of the firm's stock in a transaction on Tuesday, March 5th. The stock was 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 quarter, insiders sold 16,874 shares of company stock valued at $7,249,946. Insiders own 0.14% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LMT. First Pacific Financial purchased a new position in shares of Lockheed Martin during the first quarter worth $25,000. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Lockheed Martin by 73.0% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 64 shares of the aerospace company's stock worth $26,000 after purchasing an additional 27 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in Lockheed Martin during the fourth quarter valued at $26,000. Activest Wealth Management grew its position in Lockheed Martin by 1,200.0% during the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company's stock valued at $30,000 after buying an additional 60 shares during the period. Finally, Milestone Investment Advisors LLC acquired a new stake in Lockheed Martin during the third quarter valued at $33,000. Hedge funds and other institutional investors own 74.19% of the company's stock.

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.