Davis Capital Management Has $881,000 Position in Lockheed Martin Co. (NYSE:LMT)

Davis Capital Management reduced its position in shares of Lockheed Martin Co. (NYSE:LMT) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,814 shares of the aerospace company’s stock after selling 58 shares during the quarter. Davis Capital Management’s holdings in Lockheed Martin were worth $881,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in shares of Lockheed Martin in the third quarter worth $26,000. Mattson Financial Services LLC acquired a new position in shares of Lockheed Martin in the second quarter worth $27,000. Burkett Financial Services LLC acquired a new position in shares of Lockheed Martin in the third quarter worth $32,000. Capital Performance Advisors LLP acquired a new position in shares of Lockheed Martin in the third quarter worth $40,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Lockheed Martin in the third quarter worth $42,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Lockheed Martin Price Performance

LMT opened at $506.57 on Wednesday. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The company’s 50 day simple moving average is $503.20 and its 200-day simple moving average is $536.20. The stock has a market capitalization of $120.08 billion, a P/E ratio of 18.34, a price-to-earnings-growth ratio of 3.96 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating 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 business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the prior year, the firm earned $6.77 earnings per share. Lockheed Martin’s revenue was up 1.3% compared to the same quarter last year. Sell-side analysts anticipate that Lockheed Martin Co. will post 26.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. decreased their price objective 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. Susquehanna decreased their price objective 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. Truist Financial assumed coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. Finally, UBS Group upped their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $577.73.

Lockheed Martin Company 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.