Traynor Capital Management Inc. Has $7.57 Million Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Traynor Capital Management Inc. grew its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 22.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,583 shares of the aerospace company’s stock after acquiring an additional 2,896 shares during the quarter. Traynor Capital Management Inc.’s holdings in Lockheed Martin were worth $7,572,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. CVA Family Office LLC grew its stake in shares of Lockheed Martin by 1.1% during the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after buying an additional 17 shares during the last quarter. AllGen Financial Advisors Inc. increased its holdings in Lockheed Martin by 4.0% in the 3rd quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock worth $274,000 after purchasing an additional 18 shares in the last quarter. Salomon & Ludwin LLC raised its position in Lockheed Martin by 20.5% in the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock valued at $62,000 after purchasing an additional 18 shares during the last quarter. Sunburst Financial Group LLC boosted its stake in shares of Lockheed Martin by 3.3% during the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after purchasing an additional 18 shares in the last quarter. Finally, Quad Cities Investment Group LLC increased its stake in shares of Lockheed Martin by 1.2% in the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock valued at $919,000 after buying an additional 19 shares during the period. Institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

LMT has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their target price on shares of Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price target on Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Robert W. Baird upped their target price on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. TD Cowen upped their price objective 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. Finally, Truist Financial started coverage on shares of Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $577.73.

Lockheed Martin Stock Performance

NYSE LMT opened at $499.41 on Thursday. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The company has a fifty day moving average of $502.01 and a 200-day moving average of $536.51. The company has a market capitalization of $118.38 billion, a P/E ratio of 18.08, a P/E/G ratio of 4.11 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 (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The firm had revenue of $17.10 billion during 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%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business earned $6.77 EPS. As a group, equities research analysts predict that Lockheed Martin Co. will post 26.81 EPS for the current fiscal year.

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.