Smith Salley Wealth Management Sells 26 Shares of Lockheed Martin Co. (NYSE:LMT)

Smith Salley Wealth Management trimmed its stake in Lockheed Martin Co. (NYSE:LMT) by 0.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,693 shares of the aerospace company’s stock after selling 26 shares during the period. Smith Salley Wealth Management’s holdings in Lockheed Martin were worth $2,281,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bank of Montreal Can lifted its stake in shares of Lockheed Martin by 2.1% in the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after buying an additional 13,253 shares during the last quarter. Virtue Capital Management LLC lifted its position in Lockheed Martin by 112.8% during the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock worth $1,315,000 after acquiring an additional 1,192 shares during the last quarter. Hilltop Holdings Inc. boosted its holdings in Lockheed Martin by 79.9% during the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after acquiring an additional 5,361 shares during the period. Old West Investment Management LLC grew its position in shares of Lockheed Martin by 6.6% in the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after purchasing an additional 1,643 shares during the last quarter. Finally, Capital Investment Advisors LLC increased its stake in shares of Lockheed Martin by 2.2% in the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock worth $44,770,000 after purchasing an additional 2,011 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on LMT. Barclays dropped their price target 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. Royal Bank of Canada lowered their price target on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price objective on Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating on the stock in a report on Thursday. TD Cowen raised their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, UBS Group increased their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Lockheed Martin has an average rating of “Moderate Buy” and a consensus price target of $584.40.

Lockheed Martin Stock Up 0.8 %

NYSE LMT opened at $490.60 on Friday. The stock’s 50 day simple moving average is $504.80 and its 200 day simple moving average is $535.05. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95. The firm has a market cap of $116.29 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 3.76 and a beta of 0.48. 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 (NYSE:LMT) last announced its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. The company 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 business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.77 earnings per share. As a group, sell-side analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal 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.