Shulman DeMeo Asset Management LLC Trims Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Shulman DeMeo Asset Management LLC lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 7.0% in the fourth quarter, HoldingsChannel reports. The firm owned 1,764 shares of the aerospace company’s stock after selling 133 shares during the quarter. Shulman DeMeo Asset Management LLC’s holdings in Lockheed Martin were worth $857,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

LMT has been the subject of several research reports. Wells Fargo & Company reduced their price objective on 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. TD Cowen increased their target price on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price target for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. Finally, Truist Financial began coverage on Lockheed Martin in a research note on Tuesday. They set a “buy” rating and a $579.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $584.40.

Lockheed Martin Stock Up 0.5 %

Lockheed Martin stock opened at $486.48 on Friday. The company has a market capitalization of $115.32 billion, a P/E ratio of 17.61, a P/E/G ratio of 3.76 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 firm’s fifty day simple moving average is $507.59 and its 200-day simple moving average is $535.22. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last announced 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%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.77 earnings per share. Sell-side analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

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.