Wedmont Private Capital Increases Stake in Lockheed Martin Co. (NYSE:LMT)

Wedmont Private Capital increased its position in shares of Lockheed Martin Co. (NYSE:LMT) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,984 shares of the aerospace company’s stock after purchasing an additional 91 shares during the period. Wedmont Private Capital’s holdings in Lockheed Martin were worth $1,397,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new position in shares of Lockheed Martin during the third quarter valued at approximately $26,000. Mattson Financial Services LLC purchased a new position in Lockheed Martin during the 2nd quarter valued at $27,000. Burkett Financial Services LLC bought a new position in Lockheed Martin in the 3rd quarter valued at $32,000. Capital Performance Advisors LLP purchased a new stake in Lockheed Martin in the third quarter worth $40,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Lockheed Martin during the third quarter worth $42,000. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Trading Up 3.4 %

NYSE:LMT opened at $483.76 on Tuesday. The firm has a 50 day moving average of $510.20 and a 200 day moving average of $535.47. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The stock has a market capitalization of $114.67 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 4.05 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter last year, the firm earned $6.77 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 26.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on LMT shares. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and cut their price target for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Royal Bank of Canada decreased their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. TD Cowen increased their price objective on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup lifted their target price on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $591.21.

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.