Comerica Bank boosted its stake in Lockheed Martin Co. (NYSE:LMT - Free Report) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,367 shares of the aerospace company's stock after buying an additional 918 shares during the quarter. Comerica Bank's holdings in Lockheed Martin were worth $40,512,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Millstone Evans Group LLC purchased a new stake in Lockheed Martin during the 4th quarter valued at about $32,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Lockheed Martin in the fourth quarter valued at approximately $34,000. Heck Capital Advisors LLC acquired a new stake in shares of Lockheed Martin in the fourth quarter valued at approximately $35,000. Redwood Park Advisors LLC acquired a new position in Lockheed Martin during the fourth quarter worth $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Lockheed Martin in the 4th quarter worth $42,000. 74.19% of the stock is currently owned by institutional investors and hedge funds.
Lockheed Martin Stock Performance
Shares of LMT stock traded down $5.58 during mid-day trading on Friday, hitting $472.14. 2,089,571 shares of the stock were exchanged, compared to its average volume of 1,258,094. The stock's fifty day simple moving average is $459.44 and its two-hundred day simple moving average is $487.99. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.95 and a current ratio of 1.13. Lockheed Martin Co. has a 12-month low of $418.88 and a 12-month high of $618.95. The stock has a market capitalization of $110.62 billion, a price-to-earnings ratio of 21.21, a P/E/G ratio of 2.07 and a beta of 0.39.
Lockheed Martin (NYSE:LMT - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping the consensus estimate of $6.34 by $0.94. The company had revenue of $17.96 billion for the quarter, compared to analyst estimates of $17.83 billion. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. On average, analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the stock. Barclays dropped their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating for the company in a report on Monday, January 6th. Robert W. Baird upgraded Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 target price on the stock in a research report on Wednesday, April 23rd. StockNews.com upgraded Lockheed Martin from a "hold" rating to a "buy" rating in a research note on Wednesday, April 23rd. Melius downgraded shares of Lockheed Martin from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, Citigroup decreased their target price on Lockheed Martin from $700.00 to $600.00 and set a "buy" rating for the company in a report on Tuesday, January 21st. Eight investment 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $544.79.
Check Out Our Latest Stock Analysis on LMT
Insiders Place Their Bets
In other news, VP Harry Edward Paul III sold 707 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $442.61, for a total transaction of $312,925.27. Following the completion of the sale, the vice president now owns 2,278 shares in the company, valued at $1,008,265.58. This represents a 23.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert M. Lightfoot, Jr. sold 3,213 shares of the firm's stock in a transaction 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 $884,840. This trade represents a 61.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,133 shares of company stock valued at $3,155,916. Insiders own 0.14% of the company's stock.
About Lockheed Martin
(
Free Report)
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.
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