Cornell Pochily Investment Advisors Inc. Trims Stake in Lockheed Martin Co. (NYSE:LMT)

Cornell Pochily Investment Advisors Inc. cut its holdings 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 2,873 shares of the aerospace company’s stock after selling 92 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in Lockheed Martin were worth $1,396,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Itau Unibanco Holding S.A. purchased a new position in shares of Lockheed Martin during the third quarter worth $26,000. Burkett Financial Services LLC purchased a new position in Lockheed Martin during the 3rd quarter valued at about $32,000. Mattson Financial Services LLC acquired a new position in Lockheed Martin in the 2nd quarter valued at about $27,000. Capital Performance Advisors LLP purchased a new stake in Lockheed Martin during the third quarter worth about $40,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Lockheed Martin during the third quarter worth about $42,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on LMT shares. UBS Group lifted their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Wells Fargo & Company dropped their price target 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. Citigroup reduced their price objective on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. JPMorgan Chase & Co. decreased their price objective on Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Finally, Truist Financial started coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus price target of $577.73.

Lockheed Martin Price Performance

Shares of LMT opened at $496.96 on Monday. The firm has a fifty day moving average price of $499.24 and a 200 day moving average price of $537.29. The stock has a market cap of $117.80 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-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.

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.