Lockheed Martin Co. (NYSE:LMT) Shares Sold by Verde Capital Management

Verde Capital Management reduced its position in Lockheed Martin Co. (NYSE:LMT) by 27.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Lockheed Martin in the third quarter valued at about $26,000. Mattson Financial Services LLC acquired a new stake in Lockheed Martin in the 2nd quarter worth about $27,000. Burkett Financial Services LLC purchased a new stake in Lockheed Martin during the 3rd quarter worth approximately $32,000. Capital Performance Advisors LLP purchased a new position in shares of Lockheed Martin in the third quarter valued at approximately $40,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Lockheed Martin in the third quarter valued at approximately $42,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on LMT shares. Wells Fargo & Company dropped their price objective on shares of 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. Truist Financial initiated coverage on Lockheed Martin in a report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target for the company. TD Cowen boosted their price objective on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. cut their target price 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. Finally, StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus price target of $577.73.

Lockheed Martin Stock Performance

Shares of Lockheed Martin stock opened at $496.93 on Friday. The stock has a market capitalization of $117.79 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 4.11 and a beta of 0.48. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. 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 $500.84 and a 200 day moving average of $536.25.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, topping the consensus estimate of $6.50 by $0.34. The firm had revenue of $17.10 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm earned $6.77 EPS. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 26.81 earnings per share for the current year.

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.