Red Cedar Investment Management LLC Sells 2,860 Shares of Lockheed Martin Corporation $LMT

Red Cedar Investment Management LLC lowered its position in Lockheed Martin Corporation (NYSE:LMT) by 87.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 414 shares of the aerospace company’s stock after selling 2,860 shares during the period. Red Cedar Investment Management LLC’s holdings in Lockheed Martin were worth $207,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Brighton Jones LLC grew its position in Lockheed Martin by 5.0% in the 4th quarter. Brighton Jones LLC now owns 3,995 shares of the aerospace company’s stock valued at $1,941,000 after purchasing an additional 191 shares during the period. Sivia Capital Partners LLC increased its position in shares of Lockheed Martin by 5.4% during the second quarter. Sivia Capital Partners LLC now owns 973 shares of the aerospace company’s stock worth $451,000 after acquiring an additional 50 shares in the last quarter. Integrity Financial Corp WA acquired a new stake in shares of Lockheed Martin in the 2nd quarter worth about $206,000. Tempus Wealth Planning LLC lifted its position in Lockheed Martin by 6.3% in the 2nd quarter. Tempus Wealth Planning LLC now owns 1,156 shares of the aerospace company’s stock valued at $535,000 after acquiring an additional 68 shares in the last quarter. Finally, Smith Salley Wealth Management raised its stake in shares of Lockheed Martin by 5.5% in the second quarter. Smith Salley Wealth Management now owns 4,934 shares of the aerospace company’s stock worth $2,285,000 after purchasing an additional 257 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Stock Down 1.6%

LMT stock opened at $581.62 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.97 and a debt-to-equity ratio of 3.32. The company’s 50 day moving average is $498.14 and its 200 day moving average is $476.96. The stock has a market cap of $134.59 billion, a price-to-earnings ratio of 32.47, a price-to-earnings-growth ratio of 1.69 and a beta of 0.24. Lockheed Martin Corporation has a 1-year low of $410.11 and a 1-year high of $596.22.

Wall Street Analyst Weigh In

LMT has been the subject of several analyst reports. The Goldman Sachs Group increased their target price on shares of Lockheed Martin from $398.00 to $425.00 and gave the company a “sell” rating in a report on Friday, October 10th. UBS Group raised their target price on Lockheed Martin from $513.00 to $580.00 and gave the stock a “neutral” rating in a research report on Thursday, January 15th. TD Cowen boosted their price target on shares of Lockheed Martin from $520.00 to $600.00 and gave the company a “hold” rating in a research report on Wednesday, January 14th. BNP Paribas Exane increased their target price on Lockheed Martin from $550.00 to $570.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Finally, Truist Financial set a $605.00 price objective on Lockheed Martin and gave the company a “buy” rating in a research note on Friday, January 9th. Five research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of “Hold” and an average price target of $543.82.

Lockheed Martin Company Profile

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.