Sound Income Strategies LLC Buys 696 Shares of Lockheed Martin Co. (NYSE:LMT)

Sound Income Strategies LLC grew its stake in Lockheed Martin Co. (NYSE:LMT) by 71.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,674 shares of the aerospace company’s stock after purchasing an additional 696 shares during the period. Sound Income Strategies LLC’s holdings in Lockheed Martin were worth $814,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Virtue Capital Management LLC lifted its position in Lockheed Martin by 112.8% in the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock worth $1,315,000 after buying an additional 1,192 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Lockheed Martin by 2.1% in the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after acquiring an additional 13,253 shares during the period. Hilltop Holdings Inc. boosted its stake in shares of Lockheed Martin by 79.9% during the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock worth $7,054,000 after purchasing an additional 5,361 shares during the period. Capital Investment Advisors LLC grew its holdings in Lockheed Martin by 2.2% during the 4th quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after purchasing an additional 2,011 shares during the last quarter. Finally, Old West Investment Management LLC raised its position in Lockheed Martin by 6.6% in the 3rd quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock worth $15,569,000 after purchasing an additional 1,643 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

LMT has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and dropped their target price for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 3rd. Truist Financial started coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. Wells Fargo & Company lowered 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 note on Wednesday, January 8th. Finally, Royal Bank of Canada decreased their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. One 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $577.73.

Lockheed Martin Trading Down 0.1 %

Shares of NYSE LMT opened at $496.96 on Friday. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. The business has a fifty day moving average price of $500.00 and a 200 day moving average price of $535.98. The stock has a market capitalization of $117.80 billion, a P/E 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 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. The business had revenue of $17.10 billion during 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 company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $6.77 earnings per share. Equities research analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

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.