Parsons Capital Management Inc. RI Sells 782 Shares of Lockheed Martin Co. (NYSE:LMT)

Parsons Capital Management Inc. RI lowered its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,560 shares of the aerospace company’s stock after selling 782 shares during the period. Parsons Capital Management Inc. RI’s holdings in Lockheed Martin were worth $4,646,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price target for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. Robert W. Baird raised their price target on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. 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. JPMorgan Chase & Co. reduced their price target on shares of Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Finally, TD Cowen lifted their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and an average target price of $577.73.

Lockheed Martin Stock Performance

LMT stock opened at $504.83 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The company has a market capitalization of $119.67 billion, a price-to-earnings ratio of 18.33, a P/E/G ratio of 4.05 and a beta of 0.48. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The firm has a 50 day moving average of $499.24 and a two-hundred day moving average of $537.29.

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.