Lockheed Martin Co. (NYSE:LMT) Shares Sold by Ignite Planners LLC

Ignite Planners LLC cut its stake in Lockheed Martin Co. (NYSE:LMT) by 19.1% during the 4th quarter, HoldingsChannel reports. The fund owned 693 shares of the aerospace company’s stock after selling 164 shares during the period. Ignite Planners LLC’s holdings in Lockheed Martin were worth $334,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Cypress Financial Planning LLC raised its holdings in Lockheed Martin by 4.3% in the fourth quarter. Cypress Financial Planning LLC now owns 4,059 shares of the aerospace company’s stock valued at $1,972,000 after acquiring an additional 168 shares in the last quarter. Signal Advisors Wealth LLC raised its holdings in shares of Lockheed Martin by 9.8% during the fourth quarter. Signal Advisors Wealth LLC now owns 1,011 shares of the aerospace company’s stock worth $491,000 after purchasing an additional 90 shares during the period. Exeter Financial LLC raised its holdings in shares of Lockheed Martin by 1.1% during the fourth quarter. Exeter Financial LLC now owns 4,410 shares of the aerospace company’s stock worth $2,143,000 after purchasing an additional 49 shares during the period. Grandview Asset Management LLC acquired a new stake in shares of Lockheed Martin during the fourth quarter worth $611,000. Finally, PSI Advisors LLC raised its holdings in shares of Lockheed Martin by 6.6% during the fourth quarter. PSI Advisors LLC now owns 536 shares of the aerospace company’s stock worth $260,000 after purchasing an additional 33 shares during the period. 74.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LMT has been the topic of a number of research reports. TD Cowen increased their target price on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird increased their target price on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Wells Fargo & Company dropped their target price on shares of Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada dropped their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Finally, Citigroup upped their price target on shares of Lockheed Martin from $570.00 to $700.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and an average target price of $590.40.

Lockheed Martin Stock Up 0.2 %

Lockheed Martin stock opened at $484.08 on Wednesday. The stock has a market cap of $114.74 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 4.05 and a beta of 0.48. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. The company’s 50-day moving average price is $508.95 and its two-hundred day moving average price is $535.59. Lockheed Martin Co. has a 52 week low of $413.92 and a 52 week high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.50 by $0.34. The company 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 business’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.77 EPS. On average, analysts expect that Lockheed Martin Co. will post 26.88 EPS for the current fiscal year.

About Lockheed Martin

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.