Global Trust Asset Management LLC Cuts Stake in Lockheed Martin Co. (NYSE:LMT)

Global Trust Asset Management LLC lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 8.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,046 shares of the aerospace company’s stock after selling 190 shares during the quarter. Global Trust Asset Management LLC’s holdings in Lockheed Martin were worth $994,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of LMT. Bank of Montreal Can grew its stake in shares of Lockheed Martin by 2.1% during the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after acquiring an additional 13,253 shares in the last quarter. Virtue Capital Management LLC boosted its holdings in Lockheed Martin by 112.8% in the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after purchasing an additional 1,192 shares during the last quarter. Hilltop Holdings Inc. boosted 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 purchasing an additional 5,361 shares during the last quarter. Capital Investment Advisors LLC grew its stake in Lockheed Martin by 2.2% during the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after purchasing an additional 2,011 shares in the last quarter. Finally, Old West Investment Management LLC increased its holdings in Lockheed Martin by 6.6% during the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after purchasing an additional 1,643 shares during the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Shares of LMT opened at $506.57 on Wednesday. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The stock has a fifty day moving average price of $502.01 and a 200 day moving average price of $536.51. The company has a market cap of $120.08 billion, a P/E ratio of 18.34, a PEG ratio of 3.96 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.77 earnings per share. On average, research analysts forecast that Lockheed Martin Co. will post 26.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

LMT has been the subject of a number of recent analyst reports. Barclays decreased their price target on shares of 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. UBS Group raised their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Truist Financial assumed coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. TD Cowen lifted their price target on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Susquehanna lowered their price objective on Lockheed Martin from $695.00 to $590.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $577.73.

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.