Lenox Wealth Advisors LLC cut its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 32.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 525 shares of the aerospace company’s stock after selling 250 shares during the period. Lenox Wealth Advisors LLC’s holdings in Lockheed Martin were worth $137,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Cognios Capital LLC grew its stake in shares of Lockheed Martin by 4.0% during the second quarter. Cognios Capital LLC now owns 7,512 shares of the aerospace company’s stock valued at $2,218,000 after buying an additional 288 shares during the last quarter. FMR LLC grew its stake in Lockheed Martin by 1.4% in the second quarter. FMR LLC now owns 2,337,478 shares of the aerospace company’s stock worth $690,562,000 after purchasing an additional 32,879 shares in the last quarter. Fort L.P. bought a new position in Lockheed Martin in the second quarter worth approximately $116,000. Voya Investment Management LLC grew its stake in Lockheed Martin by 20.4% in the second quarter. Voya Investment Management LLC now owns 173,421 shares of the aerospace company’s stock worth $51,233,000 after purchasing an additional 29,388 shares in the last quarter. Finally, Tuttle Tactical Management bought a new position in Lockheed Martin in the second quarter worth approximately $396,000. Institutional investors and hedge funds own 77.66% of the company’s stock.
Several research analysts recently issued reports on LMT shares. JPMorgan Chase & Co. dropped their price objective on Lockheed Martin from $395.00 to $370.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 24th. Goldman Sachs Group raised Lockheed Martin from a “neutral” rating to a “conviction-buy” rating and increased their price objective for the stock from $391.00 to $394.00 in a research note on Wednesday, October 24th. Morgan Stanley set a $386.00 price objective on Lockheed Martin and gave the stock a “buy” rating in a research note on Thursday, October 11th. ValuEngine upgraded Lockheed Martin from a “sell” rating to a “hold” rating in a report on Tuesday, December 11th. Finally, Barclays lowered their target price on Lockheed Martin from $369.00 to $325.00 and set an “equal weight” rating for the company in a report on Tuesday, December 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $365.39.
Shares of LMT traded up $0.18 during midday trading on Wednesday, hitting $270.05. 174,507 shares of the company’s stock traded hands, compared to its average volume of 1,386,757. Lockheed Martin Co. has a 1 year low of $241.18 and a 1 year high of $363.00. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 13.46. The firm has a market cap of $75.38 billion, a PE ratio of 20.26, a P/E/G ratio of 2.27 and a beta of 0.96.
Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.31 by $0.83. Lockheed Martin had a return on equity of 2,680.55% and a net margin of 5.78%. The firm had revenue of $14.32 billion for the quarter, compared to the consensus estimate of $13.10 billion. During the same period in the prior year, the firm earned $3.24 EPS. The firm’s revenue was up 16.0% on a year-over-year basis. As a group, research analysts forecast that Lockheed Martin Co. will post 17.71 EPS for the current year.
Lockheed Martin announced that its Board of Directors has authorized a stock repurchase program on Thursday, September 27th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the aerospace company to repurchase up to 1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
In related news, VP Bruce L. Tanner sold 11,203 shares of the company’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $308.49, for a total value of $3,456,013.47. Following the transaction, the vice president now directly owns 79,770 shares of the company’s stock, valued at approximately $24,608,247.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.35% of the stock is owned by corporate insiders.
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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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