Lockheed Martin Co. (NYSE:LMT) Shares Sold by Purus Wealth Management LLC

Purus Wealth Management LLC decreased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,558 shares of the aerospace company’s stock after selling 31 shares during the quarter. Purus Wealth Management LLC’s holdings in Lockheed Martin were worth $1,243,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Itau Unibanco Holding S.A. acquired a new position in shares of Lockheed Martin in the 3rd quarter valued at $26,000. Burkett Financial Services LLC acquired a new position in shares of Lockheed Martin in the third quarter valued at about $32,000. Mattson Financial Services LLC purchased a new position in shares of Lockheed Martin in the second quarter worth about $27,000. Capital Performance Advisors LLP acquired a new stake in shares of Lockheed Martin during the third quarter worth about $40,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Lockheed Martin in the third quarter valued at approximately $42,000. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on LMT shares. Citigroup lifted their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Barclays decreased their target price on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. TD Cowen increased their price target on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird lifted their price objective on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company lowered their target price on Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin has an average rating of “Moderate Buy” and a consensus price target of $584.40.

Lockheed Martin Stock Performance

NYSE:LMT opened at $490.60 on Monday. The company has a fifty day moving average of $504.80 and a two-hundred day moving average of $535.54. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. 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 debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30.

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, 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 firm had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. During the same period last year, the company posted $6.77 EPS. Lockheed Martin’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, research analysts forecast that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Company 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.