Grove Bank & Trust Boosts Stock Position in Lockheed Martin Co. (NYSE:LMT)

Grove Bank & Trust lifted its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 745 shares of the aerospace company’s stock after acquiring an additional 35 shares during the quarter. Grove Bank & Trust’s holdings in Lockheed Martin were worth $362,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Lockheed Martin in the third quarter worth $26,000. Mattson Financial Services LLC bought a new position in Lockheed Martin in the 2nd quarter worth $27,000. Burkett Financial Services LLC purchased a new stake in Lockheed Martin in the 3rd quarter worth $32,000. Capital Performance Advisors LLP bought a new stake in Lockheed Martin during the third quarter valued at about $40,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Lockheed Martin in the third quarter valued at about $42,000. 74.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LMT. Susquehanna decreased their target price 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. Wells Fargo & Company reduced their price objective on shares of Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada dropped their target price 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. Truist Financial started coverage on shares of Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price objective on Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating for the company in a research report on Thursday. 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 issued a strong buy rating to the stock. According to MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus target price of $584.40.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock opened at $490.60 on Monday. The stock has a market cap of $116.29 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 3.76 and a beta of 0.48. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.12 and a current ratio of 1.30. The stock has a 50 day moving average price of $504.80 and a 200-day moving average price of $535.54. Lockheed Martin Co. has a one year low of $413.92 and a one year high of $618.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 earnings per share for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. The business had revenue of $17.10 billion for 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 business’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.77 earnings per share. Equities analysts expect that Lockheed Martin Co. will post 26.89 EPS 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.