Lockheed Martin Co. (NYSE:LMT) Position Trimmed by McGlone Suttner Wealth Management Inc.

McGlone Suttner Wealth Management Inc. cut its stake in Lockheed Martin Co. (NYSE:LMT) by 8.9% during the fourth quarter, HoldingsChannel reports. The fund owned 976 shares of the aerospace company’s stock after selling 95 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Lockheed Martin were worth $474,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LMT. Virtue Capital Management LLC raised its holdings 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 purchasing an additional 1,192 shares in the last quarter. Bank of Montreal Can boosted its stake in Lockheed Martin by 2.1% during 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 period. Hilltop Holdings Inc. grew its holdings in Lockheed Martin by 79.9% in the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after buying an additional 5,361 shares during the last quarter. Capital Investment Advisors LLC increased its position in Lockheed Martin by 2.2% in the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock worth $44,770,000 after buying an additional 2,011 shares during the period. Finally, Old West Investment Management LLC lifted its holdings in shares of Lockheed Martin by 6.6% during the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after buying an additional 1,643 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Lockheed Martin stock opened at $496.93 on Friday. The business has a 50 day simple moving average of $500.84 and a 200 day simple moving average of $536.25. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The company has a market capitalization of $117.79 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12.

Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion for 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 firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.77 EPS. On average, sell-side analysts forecast that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LMT shares. Royal Bank of Canada lowered their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. UBS Group raised their price target on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and cut their price objective for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. Finally, Truist Financial assumed coverage on Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.