StrongBox Wealth LLC Cuts Stake in Lockheed Martin Co. (NYSE:LMT)

StrongBox Wealth LLC reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 32.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 536 shares of the aerospace company’s stock after selling 260 shares during the period. StrongBox Wealth LLC’s holdings in Lockheed Martin were worth $260,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new position in shares of Lockheed Martin in the third quarter valued at $26,000. Burkett Financial Services LLC purchased a new position in shares of Lockheed Martin in the third quarter valued at $32,000. Mattson Financial Services LLC purchased a new position in shares of Lockheed Martin in the second quarter valued at $27,000. Capital Performance Advisors LLP purchased a new position in shares of Lockheed Martin in the third quarter valued at $40,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Lockheed Martin in the third quarter valued at $42,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Down 0.2 %

NYSE:LMT opened at $483.71 on Thursday. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The company has a market cap of $114.66 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 3.76 and a beta of 0.48. The stock has a fifty day simple moving average of $508.95 and a 200-day simple moving average of $535.59. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping 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 business 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 revenue for the quarter was up 1.3% compared to the same quarter last year. Analysts anticipate that Lockheed Martin Co. will post 26.89 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LMT. Robert W. Baird raised their target price on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price target for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. TD Cowen raised their price target on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Truist Financial began coverage on Lockheed Martin in a research report on Tuesday. They issued a “buy” rating and a $579.00 price target for the company. Finally, Susquehanna lowered their price target on Lockheed Martin from $695.00 to $590.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $590.40.

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.