Financial Enhancement Group LLC Lowers Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Financial Enhancement Group LLC cut its stake in Lockheed Martin Co. (NYSE:LMT - Free Report) by 95.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 440 shares of the aerospace company's stock after selling 10,004 shares during the quarter. Financial Enhancement Group LLC's holdings in Lockheed Martin were worth $213,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Lockheed Martin in the third quarter worth approximately $26,000. Mattson Financial Services LLC purchased a new stake in shares of Lockheed Martin during the second quarter valued at approximately $27,000. Burkett Financial Services LLC purchased a new stake in shares of Lockheed Martin during the third quarter valued at approximately $32,000. Capital Performance Advisors LLP purchased a new stake in shares of Lockheed Martin during the third quarter valued at approximately $40,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Lockheed Martin during the third quarter valued at approximately $42,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

NYSE:LMT traded up $2.51 during trading hours on Thursday, hitting $486.48. 956,431 shares of the company's stock traded hands, compared to its average volume of 1,130,932. The firm has a market cap of $115.32 billion, a P/E ratio of 17.61, 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 business's fifty day simple moving average is $507.59 and its two-hundred day simple moving average is $535.22. 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 quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The firm's quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $6.77 earnings per share. On average, research analysts anticipate that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on LMT shares. Wells Fargo & Company decreased their price target on Lockheed Martin from $543.00 to $500.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 8th. Truist Financial assumed coverage on Lockheed Martin in a report on Tuesday. They set a "buy" rating and a $579.00 price objective for the company. UBS Group increased their price objective on Lockheed Martin from $589.00 to $603.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Citigroup increased their price objective on Lockheed Martin from $570.00 to $700.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada reduced their price objective on Lockheed Martin from $675.00 to $665.00 and set an "outperform" rating for the company in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $584.40.

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.