Lockheed Martin (NYSE:LMT) Price Target Cut to $377.00 by Analysts at The Goldman Sachs Group

Lockheed Martin (NYSE:LMT) had its price objective lowered by The Goldman Sachs Group from $380.00 to $377.00 in a report issued on Tuesday morning. The firm currently has a sell rating on the aerospace company’s stock.

Several other brokerages have also issued reports on LMT. JPMorgan Chase & Co. upgraded Lockheed Martin from a neutral rating to an overweight rating and increased their price target for the stock from $475.00 to $518.00 in a report on Monday, April 15th. Royal Bank of Canada dropped their target price on Lockheed Martin from $475.00 to $470.00 and set a sector perform rating on the stock in a report on Wednesday, January 24th. Citigroup dropped their target price on Lockheed Martin from $540.00 to $508.00 and set a buy rating on the stock in a report on Wednesday, January 24th. Susquehanna dropped their target price on Lockheed Martin from $550.00 to $540.00 and set a positive rating on the stock in a report on Wednesday, January 24th. Finally, UBS Group dropped their target price on Lockheed Martin from $488.00 to $475.00 and set a neutral rating on the stock in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Lockheed Martin has a consensus rating of Hold and an average price target of $475.80.

Lockheed Martin Stock Down 0.3 %

Shares of NYSE:LMT opened at $459.99 on Tuesday. The business’s 50 day simple moving average is $441.34 and its two-hundred day simple moving average is $444.04. The firm has a market cap of $110.62 billion, a P/E ratio of 16.70, a PEG ratio of 4.23 and a beta of 0.48. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.03 and a current ratio of 1.21. Lockheed Martin has a 52-week low of $393.77 and a 52-week high of $483.53.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, January 23rd. The aerospace company reported $7.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.26 by $0.64. The business had revenue of $18.87 billion for the quarter, compared to analyst estimates of $17.96 billion. Lockheed Martin had a return on equity of 79.91% and a net margin of 10.24%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.79 earnings per share. As a group, research analysts forecast that Lockheed Martin will post 26.13 EPS for the current fiscal year.

Insider Activity at Lockheed Martin

In related news, insider Gregory M. Ulmer sold 6,204 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the completion of the sale, the insider now directly owns 12,604 shares of the company’s stock, valued at $5,434,718.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 stock was sold at an average price of $431.19, for a total value of $2,675,102.76. Following the completion of the sale, the insider now directly owns 12,604 shares of the company’s stock, valued at $5,434,718.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 value of $1,747,116.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,874 shares of company stock valued at $7,249,946. 0.14% of the stock is owned by insiders.

Institutional Trading of Lockheed Martin

Large investors have recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Lockheed Martin by 73.0% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 64 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 27 shares during the period. Altshuler Shaham Ltd bought a new position in shares of Lockheed Martin in the fourth quarter worth $26,000. Activest Wealth Management boosted its holdings in shares of Lockheed Martin by 1,200.0% in the fourth quarter. Activest Wealth Management now owns 65 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 60 shares during the period. Milestone Investment Advisors LLC bought a new position in shares of Lockheed Martin in the third quarter worth $33,000. Finally, Providence Capital Advisors LLC bought a new position in shares of Lockheed Martin in the third quarter worth $35,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

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.