Procyon Advisors LLC Buys 324 Shares of Lockheed Martin Co. (NYSE:LMT)

Procyon Advisors LLC boosted its stake in Lockheed Martin Co. (NYSE:LMT) by 7.8% in the 4th quarter, Holdings Channel reports. The firm owned 4,461 shares of the aerospace company’s stock after acquiring an additional 324 shares during the quarter. Procyon Advisors LLC’s holdings in Lockheed Martin were worth $2,168,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted 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 during the period. Los Angeles Capital Management LLC lifted its stake in Lockheed Martin by 124.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock worth $263,561,000 after purchasing an additional 249,591 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after purchasing an additional 240,306 shares during the period. FMR LLC boosted its holdings in Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after purchasing an additional 209,591 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Lockheed Martin by 14.9% in the second quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock worth $646,828,000 after purchasing an additional 180,074 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Performance

Lockheed Martin stock opened at $490.60 on Friday. The firm has a fifty day simple moving average of $506.28 and a two-hundred day simple 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 company 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 quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

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, beating the consensus estimate 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%. Lockheed Martin’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $6.77 EPS. Research analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wells Fargo & Company dropped 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. UBS Group lifted their price target on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Citigroup upped their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Susquehanna dropped their target price on shares of Lockheed Martin from $695.00 to $590.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating and decreased their price target for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. One research 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $584.40.

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.