Petredis Investment Advisors LLC Reduces Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Petredis Investment Advisors LLC lowered its position in shares of Lockheed Martin Co. (NYSE:LMT) by 2.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 9,787 shares of the aerospace company’s stock after selling 218 shares during the quarter. Petredis Investment Advisors LLC’s holdings in Lockheed Martin were worth $4,756,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. CVA Family Office LLC boosted its stake in shares of Lockheed Martin by 1.1% in the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after buying an additional 17 shares during the last quarter. AllGen Financial Advisors Inc. boosted its position in Lockheed Martin by 4.0% during the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock valued at $274,000 after buying an additional 18 shares during the period. Salomon & Ludwin LLC boosted its holdings in shares of Lockheed Martin by 20.5% during the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock worth $62,000 after purchasing an additional 18 shares during the period. Sunburst Financial Group LLC boosted its holdings in shares of Lockheed Martin by 3.3% during the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock worth $331,000 after purchasing an additional 18 shares during the period. Finally, Quad Cities Investment Group LLC lifted its holdings in Lockheed Martin by 1.2% in the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after buying an additional 19 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $496.96 on Friday. The business has a 50 day moving average of $500.00 and a two-hundred day moving average of $535.98. The company has a market cap of $117.80 billion, a P/E ratio of 17.99, a PEG ratio of 4.05 and a beta of 0.48. 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.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.77 earnings per share. As a group, analysts anticipate that Lockheed Martin Co. will post 26.89 EPS for the current year.

Wall Street Analysts Forecast Growth

LMT has been the subject of a number of research reports. Robert W. Baird boosted their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. UBS Group boosted their price objective on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and reduced their target price for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Wells Fargo & Company dropped their price target on Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. decreased their target price on Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.