Verde Capital Management Cuts Position in Lockheed Martin Co. (NYSE:LMT)

Verde Capital Management lessened its position in shares of Lockheed Martin Co. (NYSE:LMT) by 27.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,141 shares of the aerospace company’s stock after selling 429 shares during the period. Verde Capital Management’s holdings in Lockheed Martin were worth $555,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Virtue Capital Management LLC increased its holdings in shares of Lockheed Martin by 112.8% in the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock valued at $1,315,000 after acquiring an additional 1,192 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Lockheed Martin by 2.1% in the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock valued at $382,498,000 after buying an additional 13,253 shares in the last quarter. Hilltop Holdings Inc. grew its position in shares of Lockheed Martin by 79.9% in the 3rd quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after buying an additional 5,361 shares during the last quarter. Capital Investment Advisors LLC lifted its position in Lockheed Martin by 2.2% in the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after acquiring an additional 2,011 shares during the last quarter. Finally, Old West Investment Management LLC boosted its stake in Lockheed Martin by 6.6% in the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after acquiring an additional 1,643 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LMT has been the topic of a number of research analyst reports. Truist Financial started coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. JPMorgan Chase & Co. reduced their price objective on Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Wells Fargo & Company lowered their target price on shares of Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Susquehanna decreased their price target on shares of Lockheed Martin from $695.00 to $590.00 and set a “positive” rating for the company in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price objective for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $577.73.

Lockheed Martin Stock Performance

Shares of 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. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The company has a 50-day simple moving average of $500.84 and a 200-day simple moving average of $536.25. The company has a market capitalization of $117.79 billion, a PE ratio of 17.99, a P/E/G ratio of 4.11 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 (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period last year, the company posted $6.77 earnings per share. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. Equities research analysts predict that Lockheed Martin Co. will post 26.81 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.