Lockheed Martin (NYSE:LMT) had its price objective lifted by investment analysts at Citigroup from $355.00 to $400.00 in a report released on Tuesday. The brokerage currently has a “buy” rating on the aerospace company’s stock. Citigroup’s price target would suggest a potential upside of 14.11% from the stock’s previous close.
Several other equities research analysts also recently weighed in on LMT. Royal Bank of Canada reaffirmed a “hold” rating on shares of Lockheed Martin in a research note on Tuesday. Wells Fargo & Co reaffirmed a “market perform” rating and set a $355.00 target price (up from $340.00) on shares of Lockheed Martin in a research note on Tuesday. Jefferies Group reaffirmed a “hold” rating and set a $370.00 target price on shares of Lockheed Martin in a research note on Tuesday. Robert W. Baird increased their price objective on shares of Lockheed Martin from $337.00 to $410.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $392.00 price objective (up from $343.00) on shares of Lockheed Martin in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $365.03.
Shares of Lockheed Martin (NYSE LMT) traded down $0.87 on Tuesday, reaching $350.55. 1,824,563 shares of the company traded hands, compared to its average volume of 1,397,590. Lockheed Martin has a 1 year low of $249.96 and a 1 year high of $354.32. The stock has a market cap of $100,010.00, a P/E ratio of 53.28, a P/E/G ratio of 3.39 and a beta of 0.58. The company has a debt-to-equity ratio of 6.56, a quick ratio of 0.95 and a current ratio of 1.32.
In other news, insider Dale P. Bennett sold 2,000 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $313.75, for a total value of $627,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.39% of the company’s stock.
A hedge fund recently bought a new stake in Lockheed Martin stock. Buckingham Capital Management Inc. purchased a new position in shares of Lockheed Martin Co. (NYSE:LMT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 670 shares of the aerospace company’s stock, valued at approximately $208,000. Institutional investors own 78.81% of the company’s stock.
TRADEMARK VIOLATION WARNING: “Lockheed Martin (LMT) PT Raised to $400.00 at Citigroup” was first reported by American Banking and Market News and is the property of of American Banking and Market News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://www.americanbankingnews.com/2018/01/30/lockheed-martin-lmt-pt-raised-to-400-00-at-citigroup.html.
About Lockheed Martin
Lockheed Martin Corporation is a security and aerospace company. The Company operates through four segments. Aeronautics segment is engaged in the research, design, development, manufacture, integration, sustainment, support and upgrade of military aircraft, including combat and air mobility aircraft, unmanned air vehicles and related technologies.
