Lord Abbett & CO. LLC Purchases 8,059 Shares of Lockheed Martin Co. (NYSE:LMT)

Lord Abbett & CO. LLC raised its position in shares of Lockheed Martin Co. (NYSE:LMT - Free Report) by 14.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,246 shares of the aerospace company's stock after purchasing an additional 8,059 shares during the quarter. Lord Abbett & CO. LLC's holdings in Lockheed Martin were worth $30,734,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Lockheed Martin

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

Analyst Ratings Changes

A number of research firms have recently weighed in on LMT. Baird R W raised shares of Lockheed Martin from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Barclays dropped their target price on Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. reduced their price target on Lockheed Martin from $540.00 to $535.00 and set an "overweight" rating for the company in a report on Thursday, January 30th. Melius Research downgraded Lockheed Martin from a "strong-buy" rating to a "hold" rating in a report on Monday, March 24th. Finally, StockNews.com upgraded shares of Lockheed Martin from a "hold" rating to a "buy" rating in a research note on Wednesday, April 23rd. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Lockheed Martin presently has a consensus rating of "Moderate Buy" and a consensus target price of $544.79.

Lockheed Martin Price Performance

Shares of NYSE:LMT traded down $2.97 during midday trading on Thursday, reaching $474.79. 383,878 shares of the company's stock were exchanged, compared to its average volume of 1,250,414. The firm has a market capitalization of $111.24 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 2.07 and a beta of 0.39. The company's 50 day simple moving average is $458.18 and its two-hundred day simple moving average is $489.83. Lockheed Martin Co. has a 12 month low of $418.88 and a 12 month high of $618.95. 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 released its quarterly earnings data on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share for the quarter, beating 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%. Equities research analysts expect that Lockheed Martin Co. will post 27.15 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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.