Canandaigua National Bank & Trust Co. lowered its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,568 shares of the aerospace company’s stock after selling 48 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Lockheed Martin were worth $5,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. CSat Investment Advisory L.P. increased its holdings in shares of Lockheed Martin by 2,992.9% during the second quarter. CSat Investment Advisory L.P. now owns 433 shares of the aerospace company’s stock valued at $158,000 after acquiring an additional 419 shares in the last quarter. MainStreet Investment Advisors LLC boosted its stake in Lockheed Martin by 3.5% in the 3rd quarter. MainStreet Investment Advisors LLC now owns 16,859 shares of the aerospace company’s stock worth $6,576,000 after purchasing an additional 569 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its stake in Lockheed Martin by 7.2% in the 3rd quarter. Nikko Asset Management Americas Inc. now owns 1,603 shares of the aerospace company’s stock worth $625,000 after purchasing an additional 108 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in Lockheed Martin by 122.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 5,013 shares of the aerospace company’s stock worth $1,955,000 after purchasing an additional 2,761 shares in the last quarter. Finally, Evoke Wealth LLC purchased a new stake in Lockheed Martin during the 3rd quarter worth approximately $98,000. Institutional investors own 78.42% of the company’s stock.
A number of brokerages have issued reports on LMT. JPMorgan Chase & Co. cut their price target on shares of Lockheed Martin from $395.00 to $360.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Buckingham Research lifted their price objective on shares of Lockheed Martin from $405.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. They noted that the move was a valuation call. Credit Suisse Group dropped their price objective on shares of Lockheed Martin from $401.00 to $385.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Barclays reissued a “hold” rating and issued a $410.00 target price on shares of Lockheed Martin in a research report on Wednesday, October 9th. Finally, UBS Group raised their target price on Lockheed Martin from $440.00 to $470.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $387.91.
LMT traded down $0.20 during trading on Friday, reaching $425.50. 685,676 shares of the company’s stock were exchanged, compared to its average volume of 1,393,854. Lockheed Martin Co. has a 1 year low of $270.84 and a 1 year high of $425.74. 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 stock has a market capitalization of $117.38 billion, a P/E ratio of 23.84, a price-to-earnings-growth ratio of 2.42 and a beta of 0.94. The company’s fifty day simple moving average is $395.91 and its 200-day simple moving average is $382.55.
Lockheed Martin (NYSE:LMT) last released its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $5.66 EPS for the quarter, beating the consensus estimate of $5.02 by $0.64. The business had revenue of $15.17 billion for the quarter, compared to the consensus estimate of $14.87 billion. Lockheed Martin had a net margin of 10.26% and a return on equity of 221.59%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $5.14 EPS. Equities analysts forecast that Lockheed Martin Co. will post 21.62 EPS for the current year.
Lockheed Martin declared that its board has initiated a share repurchase plan on Thursday, September 26th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the aerospace company to repurchase up to 1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors 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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