Traynor Capital Management Inc. Buys 2,896 Shares of Lockheed Martin Co. (NYSE:LMT)

Traynor Capital Management Inc. increased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 22.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,583 shares of the aerospace company’s stock after buying an additional 2,896 shares during the quarter. Traynor Capital Management Inc.’s holdings in Lockheed Martin were worth $7,572,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Lockheed Martin in the 3rd quarter valued at $26,000. Burkett Financial Services LLC bought a new stake in Lockheed Martin during the third quarter worth about $32,000. Mattson Financial Services LLC bought a new stake in Lockheed Martin during the 2nd quarter worth approximately $27,000. Capital Performance Advisors LLP acquired a new position in Lockheed Martin in the third quarter worth $40,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Lockheed Martin during the third quarter worth approximately $42,000. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Ratings Changes

LMT has been the subject of several recent research reports. UBS Group boosted their price objective on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Truist Financial began 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. TD Cowen upped their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Citigroup reduced their price target on Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Barclays decreased their target price on 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus price target of $577.73.

Lockheed Martin Trading Down 1.4 %

Shares of Lockheed Martin stock opened at $499.41 on Thursday. Lockheed Martin Co. has a 1 year low of $413.92 and a 1 year high of $618.95. The company has a market capitalization of $118.38 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 4.11 and a beta of 0.48. The business has a fifty day simple moving average of $502.01 and a two-hundred day simple moving average of $536.51. 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 earnings per share for the quarter, topping analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the company earned $6.77 earnings per share. Research analysts forecast that Lockheed Martin Co. will post 26.81 EPS for the current 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.