Citigroup Has Lowered Expectations for Lockheed Martin (NYSE:LMT) Stock Price

Lockheed Martin (NYSE:LMT) had its target price cut by analysts at Citigroup from $700.00 to $600.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. Citigroup’s price target would suggest a potential upside of 19.00% from the company’s previous close.

Several other analysts also recently issued reports on the company. UBS Group lifted their target price on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Barclays decreased their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Truist Financial assumed coverage on Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. Robert W. Baird lifted their target price on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada cut their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and a consensus target price of $577.73.

Lockheed Martin Stock Performance

Shares of NYSE LMT traded up $13.90 during trading on Tuesday, hitting $504.22. The company had a trading volume of 274,021 shares, compared to its average volume of 1,068,166. The stock has a 50 day simple moving average of $503.20 and a 200 day simple moving average of $536.20. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. Lockheed Martin has a 12 month low of $413.92 and a 12 month high of $618.95. The firm has a market capitalization of $119.52 billion, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 3.96 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter last year, the company earned $6.77 earnings per share. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, analysts anticipate that Lockheed Martin will post 26.8 earnings per share for the current year.

Hedge Funds Weigh In On Lockheed Martin

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can boosted its holdings in Lockheed Martin by 2.1% during the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after acquiring an additional 13,253 shares during the period. Virtue Capital Management LLC boosted its holdings in Lockheed Martin by 112.8% during the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after acquiring an additional 1,192 shares during the period. Hilltop Holdings Inc. raised its position in Lockheed Martin by 79.9% during the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after purchasing an additional 5,361 shares in the last quarter. Capital Investment Advisors LLC raised its position in Lockheed Martin by 2.2% during the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after purchasing an additional 2,011 shares in the last quarter. Finally, Old West Investment Management LLC raised its position in Lockheed Martin by 6.6% during the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after purchasing an additional 1,643 shares in the last quarter. 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.