New Century Financial Group LLC Cuts Stake in Lockheed Martin Co. (NYSE:LMT)

New Century Financial Group LLC lessened its stake in Lockheed Martin Co. (NYSE:LMT) by 26.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,056 shares of the aerospace company’s stock after selling 381 shares during the quarter. New Century Financial Group LLC’s holdings in Lockheed Martin were worth $509,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in shares of Lockheed Martin in the 3rd quarter worth about $26,000. Mattson Financial Services LLC purchased a new stake in shares of Lockheed Martin in the second quarter valued at approximately $27,000. Burkett Financial Services LLC bought a new stake in shares of Lockheed Martin in the third quarter valued at about $32,000. Capital Performance Advisors LLP bought a new position in Lockheed Martin in the third quarter worth approximately $40,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of Lockheed Martin in the 3rd quarter worth $42,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LMT. JPMorgan Chase & Co. lowered their price objective on Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Barclays lowered their price objective on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. StockNews.com cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft cut 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 report on Thursday, January 2nd. Finally, Susquehanna decreased their target price 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. One research analyst has rated the stock with a sell rating, five have given 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $577.73.

Lockheed Martin Trading Down 0.5 %

NYSE:LMT opened at $496.93 on Friday. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The stock has a market cap of $117.79 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. The business’s 50-day simple moving average is $500.84 and its 200 day simple moving average is $536.25.

Lockheed Martin (NYSE:LMT) last posted 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 previous year, the business posted $6.77 EPS. As a group, sell-side analysts predict that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal 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.