Covenant Partners LLC Sells 1,632 Shares of Lockheed Martin Co. (NYSE:LMT)

Covenant Partners LLC cut its holdings in Lockheed Martin Co. (NYSE:LMT - Free Report) by 70.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 683 shares of the aerospace company's stock after selling 1,632 shares during the quarter. Covenant Partners LLC's holdings in Lockheed Martin were worth $332,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Millstone Evans Group LLC acquired a new stake in shares of Lockheed Martin in the 4th quarter valued at about $32,000. Mizuho Securities Co. Ltd. bought a new position in shares of Lockheed Martin in the fourth quarter valued at $34,000. Heck Capital Advisors LLC acquired a new position in shares of Lockheed Martin during the fourth quarter valued at about $35,000. Redwood Park Advisors LLC bought a new stake in shares of Lockheed Martin during the fourth quarter worth about $40,000. Finally, Runnymede Capital Advisors Inc. acquired a new stake in shares of Lockheed Martin in the 4th quarter worth about $42,000. Institutional investors and hedge funds own 74.19% of the company's stock.

Insider Transactions at Lockheed Martin

In other news, insider Robert M. Lightfoot, Jr. sold 3,213 shares of Lockheed Martin stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $442.42, for a total transaction of $1,421,495.46. Following 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Harry Edward Paul III sold 707 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $1,008,265.58. This trade represents a 23.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,133 shares of company stock worth $3,155,916. Company insiders own 0.14% of the company's stock.

Analyst Ratings Changes

LMT has been the subject of a number of recent research reports. Morgan Stanley raised Lockheed Martin from an "equal weight" rating to an "overweight" rating and set a $575.00 price objective for the company in a report on Wednesday, April 16th. Barclays lowered their price target on Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating for the company in a research report on Monday, January 6th. Robert W. Baird upgraded Lockheed Martin from a "neutral" rating to an "outperform" rating and set a $540.00 price objective on the stock in a research note on Wednesday, April 23rd. Jefferies Financial Group reduced their target price on shares of Lockheed Martin from $510.00 to $500.00 and set a "hold" rating for the company in a research note on Monday, April 28th. Finally, Susquehanna cut their price target on shares of Lockheed Martin from $590.00 to $550.00 and set a "positive" rating on the stock in a report on Wednesday, January 29th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Lockheed Martin has a consensus rating of "Moderate Buy" and a consensus target price of $541.80.

Lockheed Martin Trading Down 0.3 %

LMT stock opened at $471.54 on Tuesday. Lockheed Martin Co. has a one year low of $418.88 and a one year high of $618.95. The company has a market capitalization of $110.48 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 2.07 and a beta of 0.29. The company's 50 day moving average price is $460.04 and its two-hundred day moving average price is $485.29. 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 (NYSE:LMT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, topping the consensus estimate of $6.34 by $0.94. Lockheed Martin had a net margin of 7.51% and a return on equity of 101.47%. The business had revenue of $17.96 billion during the quarter, compared to the consensus estimate of $17.83 billion. As a group, analysts predict that Lockheed Martin Co. will post 27.15 earnings per share for the current fiscal year.

Lockheed Martin Company 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.

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