Lockheed Martin Co. (NYSE:LMT) Stake Boosted by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. boosted its holdings in Lockheed Martin Co. (NYSE:LMT) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,138 shares of the aerospace company’s stock after purchasing an additional 968 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Lockheed Martin were worth $6,870,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. TD Cowen raised their target price on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. UBS Group boosted their target price on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Truist Financial began coverage on shares of Lockheed Martin in a research note on Tuesday. They issued a “buy” rating and a $579.00 price target on the stock. Royal Bank of Canada reduced their price objective on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, StockNews.com cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 3rd. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $584.40.

Lockheed Martin Stock Performance

NYSE:LMT opened at $490.60 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The company has a 50-day moving average of $506.28 and a 200-day moving average of $534.89. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The firm has a market cap of $116.29 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 3.76 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last issued its 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 firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the firm posted $6.77 earnings per share. Analysts forecast 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.