Exchange Traded Concepts LLC Grows Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Exchange Traded Concepts LLC grew its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 30.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,070 shares of the aerospace company’s stock after purchasing an additional 5,892 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Lockheed Martin were worth $12,183,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in LMT. Geode Capital Management LLC boosted its holdings in shares of Lockheed Martin by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock valued at $2,816,898,000 after purchasing an additional 83,997 shares during the last quarter. FMR LLC raised its position in shares of Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after buying an additional 209,591 shares during the period. Wellington Management Group LLP grew its position in Lockheed Martin by 8.5% during the third quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after acquiring an additional 240,306 shares during the period. Ameriprise Financial Inc. increased its stake in Lockheed Martin by 1.7% during the second quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock worth $902,714,000 after acquiring an additional 31,545 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Lockheed Martin by 60,592.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after purchasing an additional 1,556,609 shares in the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Barclays reduced their target price on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Royal Bank of Canada reduced their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price target on Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Wells Fargo & Company cut their price objective on shares of Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. Finally, UBS Group boosted their target price on Lockheed Martin from $589.00 to $603.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. One equities 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $577.73.

Lockheed Martin Stock Performance

LMT opened at $495.88 on Friday. The company has a market cap of $117.54 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 4.05 and a beta of 0.48. The company’s fifty day moving average price is $500.84 and its two-hundred day moving average price is $536.25. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95. 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 announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating the consensus estimate of $6.50 by $0.34. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $6.77 EPS. On average, analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current fiscal 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.