Pacific Capital Wealth Advisors Inc. Increases Stake in Lockheed Martin Co. (NYSE:LMT)

Pacific Capital Wealth Advisors Inc. grew its holdings in Lockheed Martin Co. (NYSE:LMT) by 23.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 187 shares of the aerospace company’s stock after buying an additional 36 shares during the quarter. Pacific Capital Wealth Advisors Inc.’s holdings in Lockheed Martin were worth $91,000 at the end of the most recent reporting period.

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

Lockheed Martin Stock Up 1.3 %

Shares of NYSE:LMT opened at $503.19 on Tuesday. The company has a market cap of $119.28 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 4.05 and a beta of 0.48. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The firm’s 50-day simple moving average is $499.24 and its 200-day simple moving average is $537.29. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 2.66.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LMT. TD Cowen raised their price objective on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. StockNews.com cut Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft cut shares of Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price target for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Truist Financial started coverage on Lockheed Martin in a research report on Tuesday, January 14th. They set a “buy” rating and a $579.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their price target on shares of Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $577.73.

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.