Gateway Investment Advisers LLC Reduces Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Gateway Investment Advisers LLC reduced its holdings in Lockheed Martin Co. (NYSE:LMT) by 28.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,419 shares of the aerospace company’s stock after selling 1,392 shares during the period. Gateway Investment Advisers LLC’s holdings in Lockheed Martin were worth $1,661,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Bank of Montreal Can boosted its holdings in Lockheed Martin by 2.1% during the third quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company’s stock worth $382,498,000 after buying an additional 13,253 shares in the last quarter. Virtue Capital Management LLC boosted its holdings in Lockheed Martin by 112.8% during the third quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company’s stock worth $1,315,000 after buying an additional 1,192 shares in the last quarter. Hilltop Holdings Inc. lifted its holdings in Lockheed Martin by 79.9% during the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company’s stock valued at $7,054,000 after purchasing an additional 5,361 shares in the last quarter. Old West Investment Management LLC lifted its holdings in Lockheed Martin by 6.6% during the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company’s stock valued at $15,569,000 after purchasing an additional 1,643 shares in the last quarter. Finally, Capital Investment Advisors LLC lifted its holdings in Lockheed Martin by 2.2% during the fourth quarter. Capital Investment Advisors LLC now owns 92,131 shares of the aerospace company’s stock valued at $44,770,000 after purchasing an additional 2,011 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LMT shares. Wells Fargo & Company decreased their price objective 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. Citigroup increased their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft downgraded shares of Lockheed Martin from a “buy” rating to a “hold” rating and decreased their price objective for the company from $611.00 to $523.00 in a report on Thursday, January 2nd. Robert W. Baird increased their target price on shares of Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday, October 22nd. Finally, Truist Financial began coverage on shares of Lockheed Martin in a research report on Tuesday. They issued a “buy” rating and a $579.00 target price for the company. One equities research 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $584.40.

Lockheed Martin Price Performance

Lockheed Martin stock 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 stock has a market cap of $116.29 billion, a P/E ratio of 17.76, a PEG ratio of 3.76 and a beta of 0.48. The company has a 50-day moving average price of $506.28 and a 200 day moving average price 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 announced its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The business had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period last year, the business earned $6.77 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. Sell-side analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

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.