Grimes & Company Inc. Buys 708 Shares of Lockheed Martin Co. (NYSE:LMT)

Grimes & Company Inc. boosted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 4.6% during the fourth quarter, Holdings Channel reports. The firm owned 15,978 shares of the aerospace company’s stock after purchasing an additional 708 shares during the quarter. Grimes & Company Inc.’s holdings in Lockheed Martin were worth $7,764,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. CVA Family Office LLC lifted its position in Lockheed Martin by 1.1% during the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock valued at $905,000 after purchasing an additional 17 shares during the period. AllGen Financial Advisors Inc. lifted its position in Lockheed Martin by 4.0% during the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after purchasing an additional 18 shares during the period. Salomon & Ludwin LLC increased its holdings in Lockheed Martin by 20.5% during the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock valued at $62,000 after buying an additional 18 shares during the last quarter. Sunburst Financial Group LLC increased its holdings in 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 buying an additional 18 shares during the last quarter. Finally, Quad Cities Investment Group LLC increased its holdings in Lockheed Martin by 1.2% during 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 last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.1 %

NYSE LMT opened at $496.96 on Friday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The company has a market capitalization of $117.80 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. The company’s 50-day simple moving average is $499.24 and its two-hundred day simple moving average is $536.23. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. Lockheed Martin’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the business earned $6.77 EPS. Equities analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Robert W. Baird increased their price objective on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price objective for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. lowered their target price on shares of Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Truist Financial initiated coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price for the company. Finally, Susquehanna lowered their target price on shares of Lockheed Martin from $695.00 to $590.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus target price of $577.73.

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.