The Goldman Sachs Group Cuts Lockheed Martin (NYSE:LMT) Price Target to $377.00

Lockheed Martin (NYSE:LMT) had its price objective cut by equities research analysts at The Goldman Sachs Group from $380.00 to $377.00 in a research report issued to clients and investors on Tuesday. The firm presently has a “sell” rating on the aerospace company’s stock. The Goldman Sachs Group’s price objective indicates a potential downside of 17.89% from the stock’s current price.

A number of other equities analysts also recently issued reports on the stock. JPMorgan Chase & Co. raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $475.00 to $518.00 in a report on Monday, April 15th. Royal Bank of Canada dropped their price target on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 24th. Susquehanna reduced their price objective on shares of Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a research report on Wednesday, January 24th. UBS Group dropped their target price on shares of Lockheed Martin from $488.00 to $475.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. Finally, Citigroup reduced their target price on Lockheed Martin from $540.00 to $508.00 and set a “buy” rating for the company in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin currently has an average rating of “Hold” and an average target price of $479.90.

Lockheed Martin Trading Down 0.2 %

NYSE:LMT opened at $459.13 on Tuesday. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.21 and a quick ratio of 1.03. Lockheed Martin has a one year low of $393.77 and a one year high of $480.92. The company has a market cap of $110.42 billion, a PE ratio of 16.67, a PEG ratio of 4.21 and a beta of 0.48. The firm has a 50-day moving average of $442.16 and a 200-day moving average of $444.14.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 EPS for the quarter, topping the consensus estimate of $5.80 by $0.53. The firm had revenue of $17.20 billion during the quarter, compared to the consensus estimate of $16.04 billion. Lockheed Martin had a return on equity of 79.91% and a net margin of 10.24%. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the business posted $6.43 earnings per share. As a group, equities research analysts expect that Lockheed Martin will post 26.13 EPS for the current fiscal year.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Gregory M. Ulmer sold 6,204 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total value of $2,675,102.76. Following the sale, the insider now owns 12,604 shares of the company’s stock, valued at $5,434,718.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO John Frank A. St sold 6,648 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $425.35, for a total transaction of $2,827,726.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,874 shares of company stock valued at $7,249,946. Company insiders own 0.14% of the company’s stock.

Institutional Investors Weigh In On Lockheed Martin

Several institutional investors have recently made changes to their positions in LMT. Vanguard Group Inc. raised its stake in shares of Lockheed Martin by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock valued at $9,120,920,000 after purchasing an additional 279,162 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Lockheed Martin by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,686,937 shares of the aerospace company’s stock valued at $2,302,388,000 after buying an additional 97,916 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Lockheed Martin by 4.0% in the third quarter. Wellington Management Group LLP now owns 3,158,783 shares of the aerospace company’s stock worth $1,291,816,000 after buying an additional 121,358 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Lockheed Martin by 14.9% in the fourth quarter. Franklin Resources Inc. now owns 2,589,447 shares of the aerospace company’s stock valued at $1,173,641,000 after acquiring an additional 336,588 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Lockheed Martin by 4.0% in the third quarter. Northern Trust Corp now owns 2,388,377 shares of the aerospace company’s stock valued at $976,751,000 after acquiring an additional 91,109 shares during the period. 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.