Cornerstone Wealth Management LLC Boosts Stock Position in Lockheed Martin Co. (NYSE:LMT)

Cornerstone Wealth Management LLC lifted its holdings in Lockheed Martin Co. (NYSE:LMT) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,870 shares of the aerospace company’s stock after purchasing an additional 120 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Lockheed Martin were worth $1,395,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LMT. Public Sector Pension Investment Board grew its holdings in shares of Lockheed Martin by 110.2% in the second quarter. Public Sector Pension Investment Board now owns 7,847 shares of the aerospace company’s stock valued at $3,665,000 after purchasing an additional 4,114 shares in the last quarter. Deerfield Management Company L.P. Series C bought a new stake in Lockheed Martin in the second quarter worth $300,000. Dark Forest Capital Management LP lifted its position in Lockheed Martin by 56.1% in the second quarter. Dark Forest Capital Management LP now owns 1,044 shares of the aerospace company’s stock worth $488,000 after buying an additional 375 shares during the last quarter. MBB Public Markets I LLC lifted its position in Lockheed Martin by 2,674.4% in the second quarter. MBB Public Markets I LLC now owns 15,398 shares of the aerospace company’s stock worth $7,192,000 after buying an additional 14,843 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its position in Lockheed Martin by 1.3% in the second quarter. Mackenzie Financial Corp now owns 125,730 shares of the aerospace company’s stock worth $58,728,000 after buying an additional 1,654 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

LMT opened at $496.96 on Friday. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. 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 company has a market cap of $117.80 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48. The firm’s 50-day moving average price is $500.00 and its 200-day moving average price is $535.98.

Lockheed Martin (NYSE:LMT) last issued its quarterly 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. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter in the prior year, the company earned $6.77 EPS. Lockheed Martin’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, equities analysts anticipate that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LMT. UBS Group raised their price target on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price target for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. lowered their price target on Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. StockNews.com downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 3rd. Finally, Truist Financial initiated coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus target price of $577.73.

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.