Cullen Frost Bankers Inc. Reduces Stock Holdings in Lockheed Martin Corporation $LMT

Cullen Frost Bankers Inc. reduced its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 63.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,519 shares of the aerospace company’s stock after selling 19,690 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Lockheed Martin were worth $5,750,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LMT. Barnes Dennig Private Wealth Management LLC grew its position in Lockheed Martin by 285.7% during the third quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock valued at $27,000 after buying an additional 40 shares during the period. Grey Fox Wealth Advisors LLC purchased a new position in shares of Lockheed Martin during the 3rd quarter worth $27,000. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Lockheed Martin during the 2nd quarter worth $28,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Lockheed Martin during the 2nd quarter valued at $29,000. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of Lockheed Martin in the 2nd quarter worth $34,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Down 0.6%

LMT stock opened at $590.30 on Monday. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.97. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $596.22. The business has a 50 day simple moving average of $495.94 and a two-hundred day simple moving average of $476.13. The company has a market capitalization of $136.59 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 1.69 and a beta of 0.24.

Analyst Ratings Changes

Several research firms recently weighed in on LMT. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $515.00 target price (up from $465.00) on shares of Lockheed Martin in a research report on Friday, December 19th. Royal Bank Of Canada raised their price objective on Lockheed Martin from $440.00 to $525.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 7th. TD Cowen boosted their price objective on Lockheed Martin from $520.00 to $600.00 and gave the company a “hold” rating in a research note on Wednesday, January 14th. Truist Financial set a $605.00 target price on shares of Lockheed Martin and gave the stock a “buy” rating in a research note on Friday, January 9th. Finally, UBS Group lifted their price target on shares of Lockheed Martin from $513.00 to $580.00 and gave the company a “neutral” rating in a report on Thursday, January 15th. Five equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $543.82.

Lockheed Martin Company Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.