Sound Income Strategies LLC Grows Stock Position in Lockheed Martin Co. (NYSE:LMT)

Sound Income Strategies LLC lifted its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 71.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,674 shares of the aerospace company’s stock after acquiring an additional 696 shares during the period. Sound Income Strategies LLC’s holdings in Lockheed Martin were worth $814,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. CVA Family Office LLC grew its position in Lockheed Martin by 1.1% during the 3rd quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company’s stock worth $905,000 after purchasing an additional 17 shares during the period. AllGen Financial Advisors Inc. grew its holdings in Lockheed Martin by 4.0% during the third quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company’s stock worth $274,000 after acquiring an additional 18 shares during the period. Salomon & Ludwin LLC raised its position in Lockheed Martin by 20.5% during the third quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company’s stock valued at $62,000 after acquiring an additional 18 shares in the last quarter. Sunburst Financial Group LLC lifted its holdings in Lockheed Martin by 3.3% in the third quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company’s stock valued at $331,000 after acquiring an additional 18 shares during the period. Finally, Quad Cities Investment Group LLC boosted its position in Lockheed Martin by 1.2% in the 3rd quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company’s stock worth $919,000 after purchasing an additional 19 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on LMT. Robert W. Baird boosted their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. Barclays dropped their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research report on Monday, January 6th. Citigroup reduced their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Truist Financial assumed coverage on Lockheed Martin in a research report on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective for the company. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $577.73.

Lockheed Martin Stock Performance

NYSE:LMT opened at $496.96 on Friday. The company has a market cap of $117.80 billion, a P/E ratio of 17.99, a P/E/G ratio of 4.05 and a beta of 0.48. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The company’s 50-day moving average price is $500.00 and its 200-day moving average price is $535.98. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

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