Asahi Life Asset Management CO. LTD. increased its stake in shares of Lockheed Martin Co. (NYSE:LMT – Get Rating) by 94.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,265 shares of the aerospace company’s stock after purchasing an additional 615 shares during the quarter. Asahi Life Asset Management CO. LTD.’s holdings in Lockheed Martin were worth $489,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Gradient Capital Advisors LLC increased its stake in Lockheed Martin by 1.9% in the third quarter. Gradient Capital Advisors LLC now owns 1,747 shares of the aerospace company’s stock valued at $675,000 after purchasing an additional 33 shares during the period. Cowa LLC acquired a new position in Lockheed Martin in the third quarter valued at $39,000. Chevy Chase Trust Holdings LLC increased its stake in Lockheed Martin by 1.1% in the third quarter. Chevy Chase Trust Holdings LLC now owns 217,930 shares of the aerospace company’s stock valued at $84,184,000 after purchasing an additional 2,321 shares during the period. Commerce Bank increased its stake in Lockheed Martin by 2.2% in the third quarter. Commerce Bank now owns 155,441 shares of the aerospace company’s stock valued at $60,045,000 after purchasing an additional 3,324 shares during the period. Finally, XML Financial LLC increased its stake in Lockheed Martin by 243.4% in the third quarter. XML Financial LLC now owns 8,960 shares of the aerospace company’s stock valued at $3,461,000 after purchasing an additional 6,351 shares during the period. 75.18% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have commented on LMT. Wells Fargo & Company lifted their price objective on shares of Lockheed Martin from $417.00 to $422.00 in a research note on Wednesday. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 22nd. Wolfe Research began coverage on shares of Lockheed Martin in a research note on Monday, October 10th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. boosted their price target on shares of Lockheed Martin from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Monday, December 12th. Finally, Susquehanna boosted their price target on shares of Lockheed Martin from $510.00 to $512.00 in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $471.50.
Lockheed Martin Price Performance
Lockheed Martin (NYSE:LMT – Get Rating) last announced its quarterly earnings results on Tuesday, January 24th. The aerospace company reported $7.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.41 by $0.38. Lockheed Martin had a net margin of 9.07% and a return on equity of 65.16%. The company had revenue of $18.99 billion for the quarter, compared to the consensus estimate of $18.25 billion. During the same quarter in the prior year, the firm earned $7.47 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, analysts predict that Lockheed Martin Co. will post 26.96 earnings per share for the current fiscal year.
Lockheed Martin Company Profile
Lockheed Martin Corp. is a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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