Cohen Klingenstein LLC Cuts Holdings in Lockheed Martin Co. (NYSE:LMT)

Cohen Klingenstein LLC lowered its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 46.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,300 shares of the aerospace company’s stock after selling 2,900 shares during the quarter. Cohen Klingenstein LLC’s holdings in Lockheed Martin were worth $1,604,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Itau Unibanco Holding S.A. bought a new position in Lockheed Martin during the third quarter valued at approximately $26,000. Mattson Financial Services LLC bought a new position in Lockheed Martin during the 2nd quarter worth approximately $27,000. Burkett Financial Services LLC purchased a new stake in shares of Lockheed Martin during the third quarter valued at approximately $32,000. Capital Performance Advisors LLP purchased a new stake in Lockheed Martin during the 3rd quarter valued at $40,000. Finally, Legacy Investment Solutions LLC bought a new stake in Lockheed Martin in the 3rd quarter worth $42,000. 74.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and dropped their price target for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. cut their price objective on Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating on the stock in a research report on Thursday. Truist Financial started coverage on Lockheed Martin in a research note on Tuesday. They issued a “buy” rating and a $579.00 target price for the company. Royal Bank of Canada decreased their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Robert W. Baird lifted their target price on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $584.40.

Lockheed Martin Trading Up 0.8 %

Shares of NYSE:LMT opened at $490.60 on Friday. Lockheed Martin Co. has a 12-month low of $413.92 and a 12-month high of $618.95. The company has a market cap of $116.29 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 3.76 and a beta of 0.48. The stock has a 50 day moving average of $506.28 and a 200 day moving average of $534.89. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings data 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 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 analysts’ expectations of $17.38 billion. During the same quarter last year, the business posted $6.77 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities research analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current year.

Lockheed Martin 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.