Wendell David Associates Inc. Grows Position in Lockheed Martin Co. (NYSE:LMT)

Wendell David Associates Inc. grew its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,153 shares of the aerospace company’s stock after purchasing an additional 82 shares during the period. Wendell David Associates Inc.’s holdings in Lockheed Martin were worth $3,476,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LMT. Geode Capital Management LLC grew its position in Lockheed Martin by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock valued at $2,816,898,000 after purchasing an additional 83,997 shares during the last quarter. FMR LLC boosted its position in shares of Lockheed Martin by 6.6% during the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after buying an additional 209,591 shares during the last quarter. Wellington Management Group LLP raised its position in Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after buying an additional 240,306 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Lockheed Martin by 1.7% during the second quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after purchasing an additional 31,545 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in shares of Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock worth $911,433,000 after buying an additional 1,556,609 shares during the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LMT. Citigroup reduced their price target on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday. Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and cut their price target for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. cut their target price 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 target on shares of Lockheed Martin from $695.00 to $590.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Finally, Truist Financial began coverage on shares of Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Lockheed Martin presently has a consensus rating of “Moderate Buy” and a consensus target price of $577.73.

Lockheed Martin Stock Down 1.4 %

NYSE:LMT opened at $499.41 on Thursday. The firm has a market capitalization of $118.38 billion, a P/E ratio of 18.08, a PEG ratio of 4.11 and a beta of 0.48. The company’s fifty day moving average price is $502.01 and its 200-day moving average price is $536.51. 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 Co. has a 1-year low of $413.92 and a 1-year high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results 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. The company had revenue of $17.10 billion during 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%. Lockheed Martin’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.77 EPS. As a group, equities research analysts anticipate that Lockheed Martin Co. will post 26.81 EPS for the current year.

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.