Occidental Asset Management LLC Decreases Stock Position in Lockheed Martin Co. (NYSE:LMT)

Occidental Asset Management LLC trimmed its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 11.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 828 shares of the aerospace company’s stock after selling 104 shares during the quarter. Occidental Asset Management LLC’s holdings in Lockheed Martin were worth $403,000 as of its most recent SEC filing.

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

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $486.48 on Friday. The company has a market capitalization of $115.32 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 3.76 and a beta of 0.48. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66. The stock’s 50-day simple moving average is $507.59 and its 200-day simple moving average is $535.22. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company had revenue of $17.10 billion for the quarter, compared to the consensus estimate of $17.38 billion. During the same quarter last year, the company earned $6.77 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on LMT shares. Barclays cut 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. UBS Group lifted 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. Susquehanna lowered their target price on Lockheed Martin from $695.00 to $590.00 and set a “positive” rating on the stock in a report on Wednesday, January 8th. Wells Fargo & Company cut their price target on Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. One investment 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $584.40.

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.