Whitener Capital Management Inc. Increases Stock Position in Lockheed Martin Co. (NYSE:LMT)

Whitener Capital Management Inc. boosted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,677 shares of the aerospace company’s stock after purchasing an additional 100 shares during the period. Whitener Capital Management Inc.’s holdings in Lockheed Martin were worth $815,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Cranbrook Wealth Management LLC bought a new stake in shares of Lockheed Martin in the fourth quarter worth $97,000. Merit Financial Group LLC increased its holdings in Lockheed Martin by 22.3% in the 4th quarter. Merit Financial Group LLC now owns 11,915 shares of the aerospace company’s stock worth $5,790,000 after acquiring an additional 2,173 shares in the last quarter. Butensky & Cohen Financial Security Inc. raised its stake in Lockheed Martin by 1.7% during the 4th quarter. Butensky & Cohen Financial Security Inc. now owns 10,017 shares of the aerospace company’s stock worth $4,868,000 after acquiring an additional 168 shares during the period. Wedge Capital Management L L P NC lifted its holdings in Lockheed Martin by 34.3% during the fourth quarter. Wedge Capital Management L L P NC now owns 134,634 shares of the aerospace company’s stock valued at $65,424,000 after purchasing an additional 34,351 shares in the last quarter. Finally, Walker Asset Management LLC raised its position in shares of Lockheed Martin by 1.1% during the 4th quarter. Walker Asset Management LLC now owns 2,243 shares of the aerospace company’s stock valued at $1,090,000 after purchasing an additional 25 shares during the period. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Up 0.8 %

Shares of NYSE:LMT opened at $490.60 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. The business’s 50 day moving average is $506.28 and its 200 day moving average is $534.89. The stock has a market cap of $116.29 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 3.76 and a beta of 0.48. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same quarter last year, the firm posted $6.77 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. Sell-side analysts predict that Lockheed Martin Co. will post 26.89 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on LMT. Barclays dropped their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. reduced their price target on shares of Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating on the stock in a research report on Thursday. TD Cowen increased their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Truist Financial began coverage on shares of Lockheed Martin in a research report on Tuesday. They set a “buy” rating and a $579.00 target price on the stock. Finally, Susquehanna dropped their price target on Lockheed Martin from $695.00 to $590.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.