Folger Nolan Fleming Douglas Capital Management Inc. cut its holdings in Lockheed Martin Co. (NYSE:LMT – Get Rating) by 6.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,159 shares of the aerospace company’s stock after selling 153 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Lockheed Martin were worth $928,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also modified their holdings of the company. Western Pacific Wealth Management LP acquired a new stake in Lockheed Martin during the fourth quarter worth about $25,000. Capital Advisory Group Advisory Services LLC acquired a new stake in Lockheed Martin during the first quarter worth about $38,000. San Luis Wealth Advisors LLC acquired a new stake in Lockheed Martin during the first quarter worth about $42,000. Citizens National Bank Trust Department acquired a new stake in Lockheed Martin during the fourth quarter worth about $43,000. Finally, Simon Quick Advisors LLC grew its stake in Lockheed Martin by 1,940.0% during the first quarter. Simon Quick Advisors LLC now owns 102 shares of the aerospace company’s stock worth $45,000 after buying an additional 97 shares in the last quarter. 75.50% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
LMT has been the topic of a number of analyst reports. Royal Bank of Canada initiated coverage on shares of Lockheed Martin in a research note on Monday, August 29th. They set a “sector perform” rating and a $460.00 price objective on the stock. Wells Fargo & Company reduced their price objective on shares of Lockheed Martin from $496.00 to $406.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 20th. Finally, Morgan Stanley dropped their target price on shares of Lockheed Martin from $525.00 to $522.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus price target of $448.92.
Insiders Place Their Bets
Lockheed Martin Trading Down 2.8 %
NYSE LMT traded down $11.63 during trading hours on Friday, reaching $410.45. The company’s stock had a trading volume of 41,983 shares, compared to its average volume of 1,094,717. The firm has a fifty day simple moving average of $419.75 and a 200-day simple moving average of $431.25. The stock has a market cap of $108.83 billion, a P/E ratio of 24.43, a P/E/G ratio of 2.88 and a beta of 0.66. Lockheed Martin Co. has a 52 week low of $324.23 and a 52 week high of $479.99. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.27 and a quick ratio of 1.06.
Lockheed Martin (NYSE:LMT – Get Rating) last released its quarterly earnings results on Tuesday, July 19th. The aerospace company reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.39 by ($5.23). Lockheed Martin had a return on equity of 69.02% and a net margin of 7.33%. The firm had revenue of $15.45 billion for the quarter, compared to the consensus estimate of $16.02 billion. During the same quarter in the previous year, the business posted $7.13 EPS. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. Equities analysts forecast that Lockheed Martin Co. will post 26.8 earnings per share for the current fiscal year.
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, Rotary and Mission Systems, and Space.
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