Lockheed Martin Corporation $LMT Position Reduced by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. reduced its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 22.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,463 shares of the aerospace company’s stock after selling 1,009 shares during the period. First Citizens Bank & Trust Co.’s holdings in Lockheed Martin were worth $1,729,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Carnegie Investment Counsel lifted its holdings in Lockheed Martin by 11.4% in the third quarter. Carnegie Investment Counsel now owns 29,639 shares of the aerospace company’s stock worth $14,796,000 after acquiring an additional 3,031 shares during the last quarter. VCI Wealth Management LLC acquired a new position in Lockheed Martin during the 3rd quarter valued at approximately $3,075,000. DAVENPORT & Co LLC boosted its position in Lockheed Martin by 22.4% during the 3rd quarter. DAVENPORT & Co LLC now owns 25,423 shares of the aerospace company’s stock valued at $12,688,000 after purchasing an additional 4,652 shares during the period. Farther Finance Advisors LLC grew its stake in Lockheed Martin by 29.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 10,036 shares of the aerospace company’s stock worth $5,010,000 after buying an additional 2,270 shares during the last quarter. Finally, Laffer Tengler Investments Inc. increased its position in Lockheed Martin by 482.6% in the second quarter. Laffer Tengler Investments Inc. now owns 6,979 shares of the aerospace company’s stock worth $3,232,000 after buying an additional 5,781 shares during the period. Institutional investors own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LMT. Royal Bank Of Canada boosted their price target on shares of Lockheed Martin from $440.00 to $525.00 and gave the company a “sector perform” rating in a report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Lockheed Martin in a research note on Wednesday, October 8th. BNP Paribas Exane raised their price target on shares of Lockheed Martin from $550.00 to $570.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. Citigroup lifted their price target on Lockheed Martin from $505.00 to $592.00 and gave the company a “neutral” rating in a report on Tuesday, January 13th. Finally, TD Cowen increased their price objective on Lockheed Martin from $520.00 to $600.00 and gave the stock a “hold” rating in a report on Wednesday, January 14th. Five equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $543.82.

Lockheed Martin Stock Performance

LMT opened at $590.30 on Monday. The company has a market capitalization of $136.59 billion, a price-to-earnings ratio of 32.96, a price-to-earnings-growth ratio of 1.69 and a beta of 0.24. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.97. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $596.22. The business has a 50 day moving average price of $495.94 and a two-hundred day moving average price of $476.13.

About Lockheed Martin

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.