Legacy Wealth Asset Management LLC Reduces Holdings in Lockheed Martin Co. (NYSE:LMT)

Legacy Wealth Asset Management LLC lessened its holdings in Lockheed Martin Co. (NYSE:LMT) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,504 shares of the aerospace company’s stock after selling 36 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Lockheed Martin were worth $731,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Geode Capital Management LLC raised its position in shares of 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 worth $2,816,898,000 after purchasing an additional 83,997 shares during the last quarter. FMR LLC raised its holdings in shares of Lockheed Martin by 6.6% in the third quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after acquiring an additional 209,591 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Lockheed Martin by 8.5% in the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after acquiring an additional 240,306 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Lockheed Martin by 1.7% in the second quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after acquiring an additional 31,545 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Lockheed Martin by 60,592.0% in the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after acquiring an additional 1,556,609 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Lockheed Martin Stock Performance

Shares of NYSE:LMT opened at $490.60 on Friday. The firm has a market capitalization of $116.29 billion, a PE ratio of 17.76, a P/E/G ratio of 3.76 and a beta of 0.48. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The business has a 50-day moving average of $506.28 and a two-hundred day moving average of $534.89. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $6.77 earnings per share. As a group, research analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

LMT has been the topic of several recent research reports. Citigroup upped their price objective on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. TD Cowen upped their price objective on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada reduced their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Barclays reduced 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. Finally, Susquehanna reduced their price objective on Lockheed Martin from $695.00 to $590.00 and set a “positive” rating on the stock in a research report 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. Based on data from MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus target price of $584.40.

Lockheed Martin 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.