Cohen Klingenstein LLC Cuts Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Cohen Klingenstein LLC decreased its stake in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 46.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,300 shares of the aerospace company's stock after selling 2,900 shares during the period. Cohen Klingenstein LLC's holdings in Lockheed Martin were worth $1,604,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in LMT. CVA Family Office LLC increased its position in shares of Lockheed Martin by 1.1% during the third quarter. CVA Family Office LLC now owns 1,548 shares of the aerospace company's stock worth $905,000 after acquiring an additional 17 shares in the last quarter. AllGen Financial Advisors Inc. raised its position in Lockheed Martin by 4.0% in the 3rd quarter. AllGen Financial Advisors Inc. now owns 468 shares of the aerospace company's stock valued at $274,000 after buying an additional 18 shares during the last quarter. Salomon & Ludwin LLC boosted its holdings in Lockheed Martin by 20.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 106 shares of the aerospace company's stock worth $62,000 after acquiring an additional 18 shares during the last quarter. Sunburst Financial Group LLC grew its stake in shares of Lockheed Martin by 3.3% in the 3rd quarter. Sunburst Financial Group LLC now owns 566 shares of the aerospace company's stock worth $331,000 after acquiring an additional 18 shares in the last quarter. Finally, Quad Cities Investment Group LLC raised its holdings in shares of Lockheed Martin by 1.2% in the third quarter. Quad Cities Investment Group LLC now owns 1,572 shares of the aerospace company's stock valued at $919,000 after purchasing an additional 19 shares during the last quarter. Institutional investors own 74.19% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on LMT. JPMorgan Chase & Co. reduced their price objective 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. Deutsche Bank Aktiengesellschaft downgraded Lockheed Martin from a "buy" rating to a "hold" rating and decreased their price target for the company from $611.00 to $523.00 in a research report on Thursday, January 2nd. Royal Bank of Canada cut their price objective on Lockheed Martin from $675.00 to $665.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 23rd. Susquehanna decreased their target price on Lockheed Martin from $695.00 to $590.00 and set a "positive" rating for the company in a research report on Wednesday, January 8th. Finally, StockNews.com downgraded shares of Lockheed Martin from a "strong-buy" rating to a "buy" rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $584.40.

Lockheed Martin Stock Performance

Shares of NYSE:LMT traded up $3.74 during trading on Friday, hitting $490.60. 1,331,181 shares of the company were exchanged, compared to its average volume of 1,037,778. The company has a market cap of $116.29 billion, a PE ratio of 17.76, a P/E/G ratio of 3.76 and a beta of 0.48. Lockheed Martin Co. has a 52-week low of $413.92 and a 52-week high of $618.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The stock has a 50 day moving average of $504.80 and a 200 day moving average of $535.05.

Lockheed Martin (NYSE:LMT - Get Free Report) 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 firm had revenue of $17.10 billion for the quarter, compared to analysts' expectations of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company's revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $6.77 earnings per share. As a group, equities research analysts predict that Lockheed Martin Co. will post 26.89 EPS for the current 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.