Montecito Bank & Trust Has $289,000 Stock Position in Lockheed Martin Co. (NYSE:LMT)

Montecito Bank & Trust reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 5.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 595 shares of the aerospace company’s stock after selling 34 shares during the quarter. Montecito Bank & Trust’s holdings in Lockheed Martin were worth $289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of LMT. FCG Investment Co raised its position in shares of Lockheed Martin by 3.5% during the fourth quarter. FCG Investment Co now owns 5,235 shares of the aerospace company’s stock valued at $2,544,000 after buying an additional 178 shares during the last quarter. Veracity Capital LLC increased its stake in Lockheed Martin by 2.3% during the fourth quarter. Veracity Capital LLC now owns 3,348 shares of the aerospace company’s stock valued at $1,627,000 after acquiring an additional 74 shares during the period. Secure Asset Management LLC raised its holdings in Lockheed Martin by 792.3% in the 4th quarter. Secure Asset Management LLC now owns 4,274 shares of the aerospace company’s stock valued at $2,077,000 after acquiring an additional 3,795 shares in the last quarter. Red Door Wealth Management LLC lifted its position in shares of Lockheed Martin by 6.6% in the 4th quarter. Red Door Wealth Management LLC now owns 10,480 shares of the aerospace company’s stock worth $5,093,000 after acquiring an additional 647 shares during the period. Finally, Madrona Financial Services LLC grew its holdings in shares of Lockheed Martin by 7.9% during the 4th quarter. Madrona Financial Services LLC now owns 684 shares of the aerospace company’s stock worth $332,000 after purchasing an additional 50 shares in the last quarter. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Performance

Shares of NYSE:LMT opened at $496.96 on Friday. The business has a fifty day moving average of $500.00 and a 200-day moving average of $535.98. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. Lockheed Martin Co. has a twelve month low of $413.92 and a twelve month high of $618.95. The firm has a market cap of $117.80 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 4.05 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data 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. 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 during the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter last year, the company posted $6.77 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities research analysts predict that Lockheed Martin Co. will post 26.89 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on LMT. TD Cowen raised their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company reduced 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 report on Wednesday, January 8th. Citigroup lowered their target price on shares of Lockheed Martin from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday. Barclays cut their price target on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. lowered their price objective on Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin presently has a consensus rating of “Moderate Buy” and an average target price of $577.73.

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.