Purus Wealth Management LLC Decreases Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Purus Wealth Management LLC cut its stake in Lockheed Martin Co. (NYSE:LMT) by 1.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,558 shares of the aerospace company’s stock after selling 31 shares during the quarter. Purus Wealth Management LLC’s holdings in Lockheed Martin were worth $1,243,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bank of Montreal Can boosted its holdings in Lockheed Martin by 2.1% in 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 raised its position in shares of Lockheed Martin by 112.8% during the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after buying an additional 1,192 shares during the period. Hilltop Holdings Inc. lifted its holdings in 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 during the last quarter. Capital Investment Advisors LLC grew its position in Lockheed Martin by 2.2% in the fourth 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 period. Finally, Old West Investment Management LLC raised its holdings in Lockheed Martin by 6.6% in the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after buying an additional 1,643 shares during the period. Institutional investors and hedge funds own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of LMT opened at $490.60 on Monday. The firm has a market capitalization of $116.29 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 3.76 and a beta of 0.48. The firm’s fifty day simple moving average is $504.80 and its 200-day simple moving average is $535.54. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. 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 posted its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 101.44% and a net margin of 9.36%. Lockheed Martin’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $6.77 earnings per share. Equities analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LMT has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price target for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. lowered their price target on Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating for the company in a research report on Thursday. TD Cowen lifted their price objective on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company decreased their target price on Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Finally, Susquehanna dropped their target price 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 investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $584.40.

Lockheed Martin 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.