Shulman DeMeo Asset Management LLC Trims Stock Position in Lockheed Martin Co. (NYSE:LMT)

Shulman DeMeo Asset Management LLC reduced its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 7.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,764 shares of the aerospace company’s stock after selling 133 shares during the quarter. Shulman DeMeo Asset Management LLC’s holdings in Lockheed Martin were worth $857,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LMT. Itau Unibanco Holding S.A. acquired a new stake in shares of Lockheed Martin during the third quarter worth about $26,000. Mattson Financial Services LLC purchased a new position in Lockheed Martin during the 2nd quarter worth approximately $27,000. Burkett Financial Services LLC acquired a new position in Lockheed Martin during the third quarter worth approximately $32,000. Capital Performance Advisors LLP purchased a new stake in Lockheed Martin in the third quarter valued at approximately $40,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Lockheed Martin in the third quarter valued at approximately $42,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on LMT shares. Royal Bank of Canada reduced their price target on shares of Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price target for the stock from $611.00 to $523.00 in a report on Thursday, January 2nd. Barclays reduced their price objective on 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 target price on Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have given 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, the company has an average rating of “Moderate Buy” and a consensus target price of $584.40.

Lockheed Martin Stock Performance

NYSE:LMT opened at $486.48 on Friday. The stock has a market cap of $115.32 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 3.76 and a beta of 0.48. Lockheed Martin Co. has a fifty-two week low of $413.92 and a fifty-two week high of $618.95. The firm’s fifty day simple moving average is $507.59 and its 200-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) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The company had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company posted $6.77 earnings per share. Analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current fiscal year.

Lockheed Martin Company 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.