Secure Asset Management LLC Boosts Stock Position in Lockheed Martin Co. (NYSE:LMT)

Secure Asset Management LLC grew its stake in Lockheed Martin Co. (NYSE:LMT) by 792.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,274 shares of the aerospace company’s stock after purchasing an additional 3,795 shares during the period. Secure Asset Management LLC’s holdings in Lockheed Martin were worth $2,077,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Itau Unibanco Holding S.A. purchased a new position in Lockheed Martin during the 3rd quarter worth $26,000. Mattson Financial Services LLC acquired a new position in shares of Lockheed Martin during the second quarter worth about $27,000. Burkett Financial Services LLC acquired a new stake in Lockheed Martin in the third quarter valued at about $32,000. Capital Performance Advisors LLP purchased a new stake in Lockheed Martin in the 3rd quarter valued at approximately $40,000. Finally, Legacy Investment Solutions LLC acquired a new position in Lockheed Martin during the 3rd quarter worth approximately $42,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 0.5 %

Shares of NYSE:LMT opened at $496.93 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The company has a market capitalization of $117.79 billion, a P/E ratio of 17.99, a P/E/G ratio of 4.11 and a beta of 0.48. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The stock’s fifty day simple moving average is $500.84 and its 200-day simple moving average is $536.25.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion for 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 firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $6.77 EPS. As a group, equities research analysts forecast that Lockheed Martin Co. will post 26.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LMT. Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and reduced their price target for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. TD Cowen upped their price target on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Truist Financial started coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. Susquehanna decreased their price objective on shares of Lockheed Martin from $695.00 to $590.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Finally, Robert W. Baird lifted their price target on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. One equities 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $577.73.

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.