Cohen Klingenstein LLC Trims Stock Position in Lockheed Martin Co. (NYSE:LMT)

Cohen Klingenstein LLC lessened its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 46.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,300 shares of the aerospace company’s stock after selling 2,900 shares during the period. Cohen Klingenstein LLC’s holdings in Lockheed Martin were worth $1,604,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. BTS Asset Management Inc. bought a new position in Lockheed Martin during the 4th quarter worth about $244,000. Sanibel Captiva Trust Company Inc. lifted its position in shares of Lockheed Martin by 7.4% during the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 14,138 shares of the aerospace company’s stock valued at $6,870,000 after buying an additional 968 shares during the last quarter. Verity & Verity LLC boosted its holdings in shares of Lockheed Martin by 10.7% in the 4th quarter. Verity & Verity LLC now owns 32,669 shares of the aerospace company’s stock valued at $15,875,000 after buying an additional 3,146 shares in the last quarter. Arkadios Wealth Advisors grew its position in shares of Lockheed Martin by 7.3% in the 4th quarter. Arkadios Wealth Advisors now owns 9,723 shares of the aerospace company’s stock worth $4,725,000 after buying an additional 658 shares during the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its stake in shares of Lockheed Martin by 3.6% during the 4th quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 2,503 shares of the aerospace company’s stock worth $1,216,000 after acquiring an additional 88 shares in the last quarter. 74.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LMT shares. Susquehanna decreased their price objective on shares of Lockheed Martin from $695.00 to $590.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company lowered their price target on Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. TD Cowen lifted their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Friday, January 3rd. Finally, UBS Group lifted their price objective on shares of Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have given 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $584.40.

Lockheed Martin Stock Performance

Shares of LMT stock opened at $490.60 on Friday. The stock has a market capitalization of $116.29 billion, a PE ratio of 17.76, a P/E/G ratio of 3.76 and a beta of 0.48. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95. The firm has a 50 day moving average of $506.28 and a two-hundred day moving average of $534.89.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating 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 company’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the business earned $6.77 EPS. On average, research analysts predict that Lockheed Martin Co. will post 26.89 EPS 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.