Summit X LLC cut its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 2.0% in the fourth quarter, HoldingsChannel reports. The fund owned 2,420 shares of the aerospace company’s stock after selling 50 shares during the period. Summit X LLC’s holdings in Lockheed Martin were worth $949,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently made changes to their positions in the stock. Balasa Dinverno & Foltz LLC boosted its position in shares of Lockheed Martin by 13.3% during the 4th quarter. Balasa Dinverno & Foltz LLC now owns 2,801 shares of the aerospace company’s stock valued at $1,091,000 after acquiring an additional 329 shares during the last quarter. MainStreet Investment Advisors LLC boosted its position in Lockheed Martin by 3.5% during the third quarter. MainStreet Investment Advisors LLC now owns 16,859 shares of the aerospace company’s stock valued at $6,576,000 after purchasing an additional 569 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its position in Lockheed Martin by 7.2% during the third quarter. Nikko Asset Management Americas Inc. now owns 1,603 shares of the aerospace company’s stock valued at $625,000 after purchasing an additional 108 shares in the last quarter. First National Bank of Omaha boosted its position in Lockheed Martin by 5.0% during the fourth quarter. First National Bank of Omaha now owns 12,660 shares of the aerospace company’s stock valued at $4,930,000 after purchasing an additional 602 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its position in Lockheed Martin by 122.6% during the third quarter. Sunbelt Securities Inc. now owns 5,013 shares of the aerospace company’s stock valued at $1,955,000 after purchasing an additional 2,761 shares in the last quarter. Institutional investors own 78.86% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Barclays reaffirmed a “hold” rating and set a $410.00 price objective on shares of Lockheed Martin in a research report on Wednesday, October 9th. ValuEngine downgraded Lockheed Martin from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Buckingham Research raised their price target on Lockheed Martin from $405.00 to $450.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. They noted that the move was a valuation call. Morgan Stanley raised their price target on Lockheed Martin from $364.00 to $375.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th. Finally, Credit Suisse Group lowered their price target on Lockheed Martin from $401.00 to $385.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $387.91.
NYSE LMT traded up $4.36 during trading on Thursday, hitting $428.78. The company’s stock had a trading volume of 978,381 shares, compared to its average volume of 1,299,811. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.28 and a quick ratio of 1.05. The company has a market cap of $120.20 billion, a PE ratio of 20.38, a P/E/G ratio of 2.48 and a beta of 0.94. The business’s 50 day simple moving average is $401.14 and its 200-day simple moving average is $384.63. Lockheed Martin Co. has a fifty-two week low of $281.00 and a fifty-two week high of $429.56.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $5.66 earnings per share for the quarter, topping the consensus estimate of $5.02 by $0.64. Lockheed Martin had a return on equity of 221.59% and a net margin of 10.26%. The business had revenue of $15.17 billion during the quarter, compared to the consensus estimate of $14.87 billion. During the same quarter last year, the company earned $5.14 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts expect that Lockheed Martin Co. will post 21.62 EPS for the current fiscal year.
Lockheed Martin declared that its Board of Directors has initiated a stock repurchase program on Thursday, September 26th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the aerospace company to repurchase up to 1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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