AdvisorNet Financial Inc Sells 286 Shares of Lockheed Martin Co. (NYSE:LMT)

AdvisorNet Financial Inc lessened its position in shares of Lockheed Martin Co. (NYSE:LMT) by 3.5% in the fourth quarter, HoldingsChannel reports. The fund owned 7,927 shares of the aerospace company’s stock after selling 286 shares during the period. AdvisorNet Financial Inc’s holdings in Lockheed Martin were worth $3,852,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new position in Lockheed Martin in the 3rd quarter valued at $26,000. Mattson Financial Services LLC bought a new stake in shares of Lockheed Martin in the second quarter valued at about $27,000. Burkett Financial Services LLC acquired a new position in shares of Lockheed Martin in the third quarter valued at about $32,000. Capital Performance Advisors LLP bought a new position in Lockheed Martin during the third quarter worth about $40,000. Finally, Legacy Investment Solutions LLC acquired a new stake in Lockheed Martin in the 3rd quarter worth about $42,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

NYSE LMT opened at $483.76 on Tuesday. The firm’s fifty day moving average price is $510.20 and its two-hundred day moving average price is $535.47. The stock has a market cap of $114.67 billion, a PE ratio of 17.51, a PEG ratio of 4.05 and a beta of 0.48. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its 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. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. During the same period last year, the company earned $6.77 earnings per share. The business’s quarterly revenue was up 1.3% on a year-over-year basis. On average, equities analysts expect that Lockheed Martin Co. will post 26.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LMT. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their target price for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Barclays cut their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada decreased their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Citigroup upped their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. raised their target price on shares of Lockheed Martin from $560.00 to $630.00 and gave the company an “overweight” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus price target of $591.21.

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.