Alps Advisors Inc. Sells 7,354 Shares of Lockheed Martin Corporation $LMT

Alps Advisors Inc. trimmed its position in shares of Lockheed Martin Corporation (NYSE:LMT) by 10.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,921 shares of the aerospace company’s stock after selling 7,354 shares during the period. Alps Advisors Inc.’s holdings in Lockheed Martin were worth $29,913,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Lockheed Martin by 5.0% in the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock valued at $1,941,000 after purchasing an additional 191 shares in the last quarter. Sivia Capital Partners LLC raised its position in Lockheed Martin by 5.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 973 shares of the aerospace company’s stock worth $451,000 after purchasing an additional 50 shares during the period. Integrity Financial Corp WA bought a new stake in Lockheed Martin in the second quarter worth $206,000. Callan Family Office LLC lifted its stake in Lockheed Martin by 47.9% in the second quarter. Callan Family Office LLC now owns 10,357 shares of the aerospace company’s stock worth $4,797,000 after purchasing an additional 3,354 shares during the last quarter. Finally, JB Capital LLC boosted its position in Lockheed Martin by 22.5% during the second quarter. JB Capital LLC now owns 832 shares of the aerospace company’s stock valued at $386,000 after buying an additional 153 shares during the period. Institutional investors own 74.19% of the company’s stock.

Analyst Ratings Changes

LMT has been the topic of several analyst reports. Jefferies Financial Group lifted their price objective on Lockheed Martin from $540.00 to $630.00 and gave the stock a “hold” rating in a report on Sunday, February 1st. Susquehanna reaffirmed a “positive” rating and issued a $660.00 price target on shares of Lockheed Martin in a research note on Thursday, January 15th. Wall Street Zen downgraded Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Sunday. DZ Bank cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and set a $665.00 target price on the stock. in a report on Tuesday, February 3rd. Finally, Truist Financial lifted their target price on shares of Lockheed Martin from $605.00 to $695.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Six analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $612.50.

Lockheed Martin Price Performance

Shares of LMT stock opened at $623.25 on Friday. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.94 and a current ratio of 1.09. Lockheed Martin Corporation has a fifty-two week low of $410.11 and a fifty-two week high of $646.59. The firm has a market cap of $143.40 billion, a P/E ratio of 29.00, a P/E/G ratio of 1.42 and a beta of 0.23. The business’s 50 day moving average price is $526.24 and its 200-day moving average price is $486.62.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Thursday, January 29th. The aerospace company reported $5.80 EPS for the quarter, missing analysts’ consensus estimates of $6.33 by ($0.53). The business had revenue of $20.32 billion for the quarter, compared to the consensus estimate of $19.84 billion. Lockheed Martin had a net margin of 6.69% and a return on equity of 108.53%. Lockheed Martin’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.67 EPS. On average, equities research analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

About Lockheed Martin

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.