Citigroup Issues Pessimistic Forecast for Lockheed Martin (NYSE:LMT) Stock Price

Lockheed Martin (NYSE:LMT) had its price objective lowered by Citigroup from $700.00 to $600.00 in a research report report published on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the aerospace company’s stock.

A number of other equities research analysts have also recently commented on the stock. Susquehanna decreased their target price 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. Royal Bank of Canada lowered their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their target price on Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Truist Financial started coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target for the company. Finally, Robert W. Baird upped their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $577.73.

Lockheed Martin Trading Down 0.5 %

Shares of NYSE LMT opened at $496.93 on Tuesday. Lockheed Martin has a 1-year low of $413.92 and a 1-year high of $618.95. The business has a fifty day moving average price of $500.84 and a 200 day moving average price of $536.25. The stock has a market capitalization of $117.79 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 4.11 and a beta of 0.48. 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 (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $17.38 billion. During the same period in the prior year, the firm posted $6.77 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis. Equities research analysts expect that Lockheed Martin will post 26.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Sei Investments Co. grew its stake in shares of Lockheed Martin by 60.2% during the 2nd quarter. Sei Investments Co. now owns 71,344 shares of the aerospace company’s stock worth $33,327,000 after purchasing an additional 26,797 shares during the period. ProShare Advisors LLC grew its position in Lockheed Martin by 6.0% during the second quarter. ProShare Advisors LLC now owns 33,727 shares of the aerospace company’s stock valued at $15,754,000 after buying an additional 1,921 shares during the period. Public Sector Pension Investment Board increased its holdings in Lockheed Martin by 110.2% in the second quarter. Public Sector Pension Investment Board now owns 7,847 shares of the aerospace company’s stock valued at $3,665,000 after buying an additional 4,114 shares in the last quarter. Evergreen Capital Management LLC raised its position in shares of Lockheed Martin by 3.9% in the second quarter. Evergreen Capital Management LLC now owns 12,873 shares of the aerospace company’s stock worth $6,013,000 after acquiring an additional 483 shares during the period. Finally, Marshall Wace LLP boosted its stake in shares of Lockheed Martin by 82.2% during the 2nd quarter. Marshall Wace LLP now owns 183,473 shares of the aerospace company’s stock worth $85,700,000 after acquiring an additional 82,761 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.