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

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

Several other research analysts have also issued reports on the company. Wells Fargo & Company reduced their target price on Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. UBS Group boosted their price target on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. TD Cowen boosted their price target on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price target for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. Finally, StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $577.73.

Lockheed Martin Stock Up 2.8 %

NYSE:LMT traded up $13.90 during mid-day trading on Tuesday, hitting $504.22. 274,021 shares of the company’s stock traded hands, compared to its average volume of 1,068,166. The company has a fifty day moving average of $503.20 and a 200 day moving average of $536.20. Lockheed Martin has a twelve month low of $413.92 and a twelve month high of $618.95. The company has a market capitalization of $119.52 billion, a P/E ratio of 18.27, a P/E/G ratio of 3.96 and a beta of 0.48. 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 (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating 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 company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same period in the prior year, the company posted $6.77 EPS. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, analysts forecast that Lockheed Martin will post 26.8 EPS for the current year.

Hedge Funds Weigh In On Lockheed Martin

Large investors have recently bought and sold shares of the business. Bank of Montreal Can raised its holdings in Lockheed Martin by 2.1% in the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after purchasing an additional 13,253 shares during the period. Virtue Capital Management LLC raised its holdings in Lockheed Martin by 112.8% in the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock worth $1,315,000 after purchasing an additional 1,192 shares during the period. Hilltop Holdings Inc. raised its holdings in Lockheed Martin by 79.9% in the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after purchasing an additional 5,361 shares during the period. Capital Investment Advisors LLC raised its holdings in Lockheed Martin by 2.2% in the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock worth $44,770,000 after purchasing an additional 2,011 shares during the period. Finally, Old West Investment Management LLC raised its holdings in Lockheed Martin by 6.6% in the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after purchasing an additional 1,643 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

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.