Park Place Capital Corp Sells 67 Shares of Lockheed Martin Co. (NYSE:LMT)

Park Place Capital Corp lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 4.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,410 shares of the aerospace company’s stock after selling 67 shares during the period. Park Place Capital Corp’s holdings in Lockheed Martin were worth $685,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LMT. Itau Unibanco Holding S.A. bought a new stake in shares of Lockheed Martin during the third quarter worth $26,000. Mattson Financial Services LLC acquired a new position in shares of Lockheed Martin during the second quarter worth $27,000. Burkett Financial Services LLC acquired a new position in shares of Lockheed Martin during the third quarter worth $32,000. Capital Performance Advisors LLP acquired a new position in shares of Lockheed Martin during the third quarter worth $40,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Lockheed Martin during the third quarter worth $42,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

LMT stock opened at $496.58 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 current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The firm’s 50-day moving average price is $502.01 and its two-hundred day moving average price is $536.51. The stock has a market capitalization of $117.71 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 3.96 and a beta of 0.48.

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. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the prior year, the firm posted $6.77 earnings per share. The business’s revenue was up 1.3% on a year-over-year basis. As a group, equities analysts predict that Lockheed Martin Co. will post 26.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. TD Cowen lifted their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. dropped their target price on shares of Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Truist Financial started coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. Finally, Royal Bank of Canada dropped their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report 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 company’s stock. According to MarketBeat.com, Lockheed Martin 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.