FAS Wealth Partners Inc. Sells 5,176 Shares of Lockheed Martin Co. (NYSE:LMT)

FAS Wealth Partners Inc. lowered its position in Lockheed Martin Co. (NYSE:LMT) by 65.9% during the 4th quarter, Holdings Channel reports. The fund owned 2,674 shares of the aerospace company’s stock after selling 5,176 shares during the period. FAS Wealth Partners Inc.’s holdings in Lockheed Martin were worth $1,299,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LMT. World Investment Advisors LLC lifted its holdings in shares of Lockheed Martin by 55.1% in the third quarter. World Investment Advisors LLC now owns 6,468 shares of the aerospace company’s stock valued at $3,781,000 after purchasing an additional 2,297 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in shares of Lockheed Martin by 194.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 7,419 shares of the aerospace company’s stock valued at $4,337,000 after purchasing an additional 4,902 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its holdings in shares of Lockheed Martin by 196.0% in the third quarter. Beaird Harris Wealth Management LLC now owns 148 shares of the aerospace company’s stock valued at $87,000 after purchasing an additional 98 shares in the last quarter. Garden State Investment Advisory Services LLC bought a new position in shares of Lockheed Martin in the third quarter valued at approximately $211,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Lockheed Martin by 4.0% in the third quarter. Principal Financial Group Inc. now owns 270,879 shares of the aerospace company’s stock valued at $158,345,000 after purchasing an additional 10,358 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LMT shares. Bank of America downgraded Lockheed Martin from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $685.00 to $485.00 in a research note on Monday, March 24th. Royal Bank of Canada cut shares of Lockheed Martin from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $550.00 to $480.00 in a research note on Thursday, March 27th. Melius lowered shares of Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Barclays reduced their price objective on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Finally, Truist Financial started coverage on Lockheed Martin in a research note on Tuesday, January 14th. They issued a “buy” rating and a $579.00 target price on the stock. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $544.79.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $478.62 on Friday. The firm has a market capitalization of $112.14 billion, a P/E ratio of 21.50, a P/E/G ratio of 2.07 and a beta of 0.39. The company has a quick ratio of 0.95, a current ratio of 1.13 and a debt-to-equity ratio of 3.10. The stock’s 50-day simple moving average is $458.96 and its two-hundred day simple moving average is $488.91. Lockheed Martin Co. has a twelve month low of $418.88 and a twelve month high of $618.95.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.34 by $0.94. The business had revenue of $17.96 billion during the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. As a group, equities analysts anticipate that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, VP Harry Edward Paul III sold 707 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $442.61, for a total transaction of $312,925.27. Following the transaction, the vice president now directly owns 2,278 shares in the company, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following the completion of the sale, the insider now owns 2,000 shares of the company’s stock, valued at approximately $884,840. The trade was a 61.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,133 shares of company stock valued at $3,155,916 over the last 90 days. 0.14% of the stock is owned by insiders.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.