Citigroup Raises Lockheed Martin (LMT) Price Target to $706

Citigroup maintained its Buy rating on Lockheed Martin Corporation (NYSE: LMT) on October 23, 2026, while pushing its price target higher from $691.00 to $706.00. The research note outlines a positive view on the aerospace and defense giant as shares trade close to the $604 mark.

LMT Lockheed Martin Corporation

$589.91 ▲ +20.83% year to date

1M 3M YTD

Daily close · Oct 22, 2026

Citigroup's Call on Lockheed Martin

On October 23, 2026, Citigroup issued its latest research note on the company, keeping a Buy rating in place while adjusting the price target up to $706.00 from its previous target of $691.00. Other firms weighed in around the same time, including UBS maintaining a Buy rating with a $692.00 target and RBC Capital keeping a Sector Perform rating with a $600.00 target on October 23, 2026.

Other Institutional Activity in Lockheed Martin

Other large institutional investors have also adjusted their portfolio holdings in the defense contractor recently. Foster Victor Wealth Advisors grew its holdings by 1,735 shares, ending with 35,024 shares worth about $19,201,196. Sanders Capital, LLC increased its stake by 952,519 shares, or 83.5%, ending with 2,093,533 shares valued at roughly $1,234,995,995 in its report dated June 30, 2026.

Lockheed Martin Corporation Stock Up 9.6%

Shares of Lockheed Martin recently traded around $604.38 as of October 23, 2026, sitting right near the session close of $604.18. The stock trades above both its 50-day moving average of $540.01 and its 200-day moving average of $565.75, though it remains below its 52-week high of $692.00.

Recent Earnings

Lockheed Martin reported trailing twelve month revenue of $79,116,001,280 and trailing earnings of $28.16 per share. The company delivered a net profit margin of 8.2% and a return on equity of 80.2%. Investors will watch for the company's next earnings report on January 26, 2027, to track ongoing revenue growth and segment performance.

Dividend

The firm offers an annual dividend rate of $14.40 per share, yielding 2.44% with a payout ratio of 50.3%.

Insider Buying and Selling at Lockheed Martin Corporation

Company insiders completed several transactions earlier in the year. Officer Gregory M Ulmer sold 2,840 shares on February 27, 2026, at an average price of $658.08 for a total value of $1,868,947. Officer Timothy S Cahill sold 4,620 shares on March 11, 2026, at $649.47 per share for a total of $3,000,551.

Analysts Set New Price Targets

Across 21 analyst opinions, the stock carries a consensus buy recommendation and a mean price target of $632.90, with targets ranging from a low of $498.00 to a high of $756.00.

About Lockheed Martin Corporation

Lockheed Martin Corporation is an aerospace and defense company that designs, builds, and maintains advanced technology systems, products, and services for governments and international customers. Its operations span four major business segments covering aeronautics, missiles, fire control, rotary and mission systems, and space exploration equipment.

Bottom Line

Citigroup's target increase to $706.00 highlights continued confidence from Wall Street analysts covering the defense firm. Market participants will monitor upcoming earnings results in January 2027 to gauge how operational segments perform against current expectations.