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

Procyon Advisors LLC increased its position in Lockheed Martin Co. (NYSE:LMT) by 7.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,461 shares of the aerospace company’s stock after purchasing an additional 324 shares during the period. Procyon Advisors LLC’s holdings in Lockheed Martin were worth $2,168,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of LMT. International Assets Investment Management LLC lifted its stake 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 buying an additional 1,556,609 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of 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 acquiring an additional 249,591 shares during the last quarter. Wellington Management Group LLP lifted its position 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 acquiring an additional 240,306 shares in the last quarter. FMR LLC lifted its position 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 acquiring an additional 209,591 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Lockheed Martin by 14.9% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on LMT. JPMorgan Chase & Co. dropped their target price on Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating on the stock in a report on Thursday. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Friday, January 3rd. Susquehanna lowered their target price on shares of Lockheed Martin from $695.00 to $590.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Wells Fargo & Company cut their price target on shares of Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Finally, Royal Bank of Canada decreased their price objective on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $584.40.

Lockheed Martin Stock Performance

NYSE:LMT opened at $490.60 on Friday. The company has a market capitalization of $116.29 billion, a P/E ratio of 17.76, a P/E/G ratio of 3.76 and a beta of 0.48. The business has a fifty day simple moving average of $506.28 and a two-hundred day simple moving average of $534.89. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data 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. The business had revenue of $17.10 billion for 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 firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business posted $6.77 EPS. On average, analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current 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.