Lockheed Martin Co. (NYSE:LMT) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC lessened its stake in Lockheed Martin Co. (NYSE:LMT - Free Report) by 28.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,419 shares of the aerospace company's stock after selling 1,392 shares during the quarter. Gateway Investment Advisers LLC's holdings in Lockheed Martin were worth $1,661,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Edgestream Partners L.P. lifted its stake in shares of Lockheed Martin by 63.6% in the 2nd quarter. Edgestream Partners L.P. now owns 3,170 shares of the aerospace company's stock valued at $1,481,000 after purchasing an additional 1,232 shares during the last quarter. Brighton Jones LLC lifted its position in Lockheed Martin by 5.1% in the second quarter. Brighton Jones LLC now owns 3,956 shares of the aerospace company's stock worth $1,848,000 after buying an additional 192 shares during the last quarter. Ieq Capital LLC boosted its stake in Lockheed Martin by 12.4% during the second quarter. Ieq Capital LLC now owns 13,396 shares of the aerospace company's stock worth $6,257,000 after buying an additional 1,478 shares during the period. Wealth Advisors of Tampa Bay LLC bought a new position in Lockheed Martin during the second quarter valued at $2,107,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in Lockheed Martin by 7.5% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 43,438 shares of the aerospace company's stock valued at $20,290,000 after acquiring an additional 3,047 shares during the last quarter. Institutional investors own 74.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on LMT shares. Truist Financial initiated coverage on shares of Lockheed Martin in a report on Tuesday. They set a "buy" rating and a $579.00 price target on the stock. TD Cowen upped their target price on Lockheed Martin from $560.00 to $610.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. StockNews.com cut Lockheed Martin from a "strong-buy" rating to a "buy" rating in a report on Friday, January 3rd. JPMorgan Chase & Co. cut their price objective on Lockheed Martin from $546.00 to $540.00 and set an "overweight" rating on the stock in a research report on Thursday. Finally, Barclays decreased their target price on Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating for the company in a research report on Monday, January 6th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Lockheed Martin has an average rating of "Moderate Buy" and a consensus price target of $584.40.

Lockheed Martin Stock Up 0.8 %

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

Lockheed Martin (NYSE:LMT - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS 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 company had revenue of $17.10 billion during the quarter, compared to analysts' expectations of $17.38 billion. During the same quarter in the prior year, the company posted $6.77 earnings per share. Lockheed Martin's revenue for the quarter was up 1.3% compared to the same quarter last year. On average, research analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

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.