Ameriprise Financial Inc. Sells 100,140 Shares of Lockheed Martin Co. (NYSE:LMT)

Ameriprise Financial Inc. cut its stake in Lockheed Martin Co. (NYSE:LMT - Free Report) by 5.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,888,743 shares of the aerospace company's stock after selling 100,140 shares during the period. Ameriprise Financial Inc. owned 0.80% of Lockheed Martin worth $912,858,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Alteri Wealth LLC purchased a new position in shares of Lockheed Martin in the 4th quarter valued at approximately $1,797,000. Ancora Advisors LLC raised its holdings in Lockheed Martin by 4.5% in the fourth quarter. Ancora Advisors LLC now owns 2,144 shares of the aerospace company's stock worth $1,042,000 after purchasing an additional 93 shares in the last quarter. Aptus Capital Advisors LLC lifted its position in Lockheed Martin by 21.7% during the fourth quarter. Aptus Capital Advisors LLC now owns 65,547 shares of the aerospace company's stock valued at $31,852,000 after buying an additional 11,686 shares during the period. Arrowroot Family Office LLC boosted its holdings in shares of Lockheed Martin by 32.0% during the 4th quarter. Arrowroot Family Office LLC now owns 479 shares of the aerospace company's stock valued at $233,000 after buying an additional 116 shares in the last quarter. Finally, Aspire Growth Partners LLC purchased a new stake in shares of Lockheed Martin in the 4th quarter worth about $1,159,000. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Stock Performance

Shares of NYSE LMT traded down $1.26 during midday trading on Monday, hitting $471.54. 1,150,132 shares of the stock traded hands, compared to its average volume of 1,259,052. 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 one year low of $418.88 and a one year high of $618.95. The firm has a market capitalization of $110.48 billion, a P/E ratio of 21.18, a PEG ratio of 2.07 and a beta of 0.29. The firm has a 50-day moving average of $460.04 and a two-hundred day moving average of $485.29.

Lockheed Martin (NYSE:LMT - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.34 by $0.94. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. The business had revenue of $17.96 billion for the quarter, compared to analysts' expectations of $17.83 billion. On average, equities analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on LMT shares. Susquehanna cut their price objective 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. Melius Research lowered Lockheed Martin from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 24th. Barclays lowered their price objective on Lockheed Martin from $565.00 to $515.00 and set an "equal weight" rating for the company in a research note on Monday, January 6th. UBS Group increased their target price on Lockheed Martin from $481.00 to $499.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 23rd. Finally, Bank of America cut shares of Lockheed Martin from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $685.00 to $485.00 in a research note on Monday, March 24th. Nine 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $541.80.

Insider Activity at Lockheed Martin

In related news, 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 transaction, the insider now directly owns 2,000 shares in the company, valued at approximately $884,840. The trade was a 61.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Harry Edward Paul III sold 707 shares of the 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 directly owns 2,278 shares of the company's stock, valued at $1,008,265.58. This 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. 0.14% of the stock is owned by company 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.