Lake Street Private Wealth LLC Lowers Stock Position in Lockheed Martin Co. (NYSE:LMT)

Lake Street Private Wealth LLC trimmed its position in Lockheed Martin Co. (NYSE:LMT) by 7.3% in the 4th quarter, HoldingsChannel reports. The fund owned 457 shares of the aerospace company’s stock after selling 36 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Lockheed Martin were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of Montreal Can raised its position in shares of Lockheed Martin by 2.1% during the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $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% during the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after acquiring an additional 1,192 shares during the period. Hilltop Holdings Inc. lifted its position in shares of Lockheed Martin by 79.9% in the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after acquiring an additional 5,361 shares in the last quarter. Old West Investment Management LLC boosted its stake in shares of Lockheed Martin by 6.6% in the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after acquiring an additional 1,643 shares during the period. Finally, Capital Investment Advisors LLC grew its position in shares of Lockheed Martin by 2.2% during the fourth 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 in the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Up 0.8 %

LMT stock opened at $490.60 on Friday. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The stock has a market capitalization of $116.29 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 3.76 and a beta of 0.48. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The firm’s fifty day simple moving average is $504.80 and its two-hundred day simple moving average is $535.05.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.77 EPS. As a group, analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LMT has been the topic of a number of research analyst reports. Barclays lowered their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Truist Financial began coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price for the company. Robert W. Baird lifted their price target on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. UBS Group increased their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and reduced their target price for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $584.40.

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.