Pines Wealth Management LLC Invests $906,000 in Lockheed Martin Co. (NYSE:LMT)

Pines Wealth Management LLC acquired a new position in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,936 shares of the aerospace company's stock, valued at approximately $906,000.

A number of other institutional investors and hedge funds have also modified their holdings of LMT. Bank of Montreal Can increased its holdings in Lockheed Martin by 2.1% in the 3rd quarter. Bank of Montreal Can now owns 656,807 shares of the aerospace company's stock valued at $382,498,000 after buying an additional 13,253 shares during the period. Virtue Capital Management LLC boosted its position in shares of Lockheed Martin by 112.8% during the 3rd quarter. Virtue Capital Management LLC now owns 2,249 shares of the aerospace company's stock valued at $1,315,000 after acquiring an additional 1,192 shares in the last quarter. Hilltop Holdings Inc. increased its stake in Lockheed Martin by 79.9% in the third quarter. Hilltop Holdings Inc. now owns 12,068 shares of the aerospace company's stock valued at $7,054,000 after acquiring an additional 5,361 shares during the period. Old West Investment Management LLC raised its position in Lockheed Martin by 6.6% in the third quarter. Old West Investment Management LLC now owns 26,633 shares of the aerospace company's stock worth $15,569,000 after purchasing an additional 1,643 shares in the last quarter. Finally, Capital Investment Advisors LLC lifted its stake 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 worth $44,770,000 after purchasing an additional 2,011 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Down 0.2 %

LMT stock traded down $0.75 during trading hours on Wednesday, reaching $483.71. 882,044 shares of the stock were exchanged, compared to its average volume of 1,147,834. The firm's 50-day moving average is $508.95 and its 200-day moving average is $535.59. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95. The company has a market cap of $114.66 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 4.05 and a beta of 0.48. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12.

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, topping analysts' consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion during the quarter, compared to the consensus estimate of $17.38 billion. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. Lockheed Martin's quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the company earned $6.77 earnings per share. On average, equities research analysts expect that Lockheed Martin Co. will post 26.88 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on LMT shares. Susquehanna lowered their price objective on Lockheed Martin from $695.00 to $590.00 and set a "positive" rating on the stock in a research note on Wednesday, January 8th. StockNews.com cut Lockheed Martin from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 3rd. Citigroup increased their price objective on Lockheed Martin from $570.00 to $700.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Royal Bank of Canada reduced their target price on shares of Lockheed Martin from $675.00 to $665.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 23rd. Finally, Truist Financial began coverage on shares of Lockheed Martin in a research report on Tuesday. They set a "buy" rating and a $579.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Lockheed Martin presently has a consensus rating of "Moderate Buy" and an average target price of $590.40.

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.