Cornerstone Wealth Management LLC Grows Holdings in Lockheed Martin Co. (NYSE:LMT)

Cornerstone Wealth Management LLC boosted its position in shares of Lockheed Martin Co. (NYSE:LMT) by 4.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund 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 reporting period.

Several other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in Lockheed Martin by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock valued at $2,816,898,000 after acquiring an additional 83,997 shares during the period. FMR LLC lifted its stake in Lockheed Martin by 6.6% during the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock valued at $1,981,088,000 after acquiring an additional 209,591 shares during the period. Wellington Management Group LLP lifted its stake in Lockheed Martin by 8.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after acquiring an additional 240,306 shares during the period. International Assets Investment Management LLC lifted its stake in Lockheed Martin by 60,592.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after acquiring an additional 1,556,609 shares during the period. Finally, Legal & General Group Plc lifted its stake in Lockheed Martin by 14.9% during the 2nd quarter. Legal & General Group Plc now owns 1,384,774 shares of the aerospace company’s stock valued at $646,828,000 after acquiring an additional 180,074 shares during the period. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Trading Down 0.1 %

Lockheed Martin stock opened at $496.96 on Friday. The firm has a 50 day moving average of $500.00 and a 200 day moving average of $535.98. The firm has a market capitalization of $117.80 billion, a price-to-earnings ratio of 17.99, a P/E/G ratio of 4.05 and a beta of 0.48. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. 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 announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same period last year, the firm posted $6.77 EPS. The company’s revenue was up 1.3% on a year-over-year basis. As a group, research analysts predict that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on LMT shares. Robert W. Baird upped their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their target price for the company from $611.00 to $523.00 in a research note on Thursday, January 2nd. StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. Barclays lowered their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Finally, Truist Financial started coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.