TL Private Wealth Cuts Position in Lockheed Martin Co. (NYSE:LMT)

TL Private Wealth decreased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 5.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,810 shares of the aerospace company’s stock after selling 100 shares during the period. Lockheed Martin accounts for 0.4% of TL Private Wealth’s portfolio, making the stock its 17th largest position. TL Private Wealth’s holdings in Lockheed Martin were worth $876,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bank of Montreal Can grew its position in 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 last quarter. Virtue Capital Management LLC lifted its stake in shares of Lockheed Martin by 112.8% in the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock worth $1,315,000 after buying an additional 1,192 shares in the last quarter. Hilltop Holdings Inc. grew its holdings in shares of Lockheed Martin by 79.9% during the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after buying an additional 5,361 shares during the last quarter. Old West Investment Management LLC increased its position in shares of Lockheed Martin by 6.6% during the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after acquiring an additional 1,643 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its holdings in Lockheed Martin by 2.2% in the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock worth $44,770,000 after acquiring an additional 2,011 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Price Performance

Shares of LMT stock opened at $490.60 on Friday. The stock has a 50 day moving average price of $504.80 and a 200 day moving average price of $535.05. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The firm has a market capitalization of $116.29 billion, a P/E ratio of 17.76, a P/E/G ratio of 3.76 and a beta of 0.48. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on LMT shares. Barclays dropped their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Robert W. Baird boosted their price target on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Susquehanna lowered their price objective on shares of Lockheed Martin from $695.00 to $590.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Truist Financial assumed coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective on the stock. Finally, Royal Bank of Canada reduced their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $584.40.

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.