Weatherly Asset Management L. P. Lowers Holdings in Lockheed Martin Co. (NYSE:LMT)

Weatherly Asset Management L. P. trimmed its holdings in Lockheed Martin Co. (NYSE:LMT) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,825 shares of the aerospace company’s stock after selling 739 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Lockheed Martin were worth $6,719,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Triumph Capital Management increased its position in shares of Lockheed Martin by 3.1% in the third quarter. Triumph Capital Management now owns 723 shares of the aerospace company’s stock worth $296,000 after acquiring an additional 22 shares in the last quarter. Abbrea Capital LLC grew its position in Lockheed Martin by 1.7% during the third quarter. Abbrea Capital LLC now owns 1,397 shares of the aerospace company’s stock valued at $571,000 after purchasing an additional 23 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in Lockheed Martin by 1.6% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,429 shares of the aerospace company’s stock valued at $584,000 after acquiring an additional 23 shares during the last quarter. Elevated Capital Advisors LLC lifted its stake in Lockheed Martin by 3.5% in the third quarter. Elevated Capital Advisors LLC now owns 709 shares of the aerospace company’s stock valued at $290,000 after acquiring an additional 24 shares during the last quarter. Finally, Duncker Streett & Co. Inc. lifted its stake in Lockheed Martin by 1.2% in the third quarter. Duncker Streett & Co. Inc. now owns 2,013 shares of the aerospace company’s stock valued at $823,000 after acquiring an additional 24 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Stock Performance

Lockheed Martin stock traded down $1.34 on Tuesday, hitting $459.99. The company’s stock had a trading volume of 1,789,251 shares, compared to its average volume of 1,176,603. The firm has a market cap of $110.62 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 4.23 and a beta of 0.48. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 2.53. The company has a fifty day moving average price of $440.67 and a 200-day moving average price of $443.62. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $483.53.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, January 23rd. The aerospace company reported $7.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.26 by $0.64. The firm had revenue of $18.87 billion for the quarter, compared to analyst estimates of $17.96 billion. Lockheed Martin had a net margin of 10.24% and a return on equity of 79.91%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.79 EPS. On average, equities analysts anticipate that Lockheed Martin Co. will post 26.13 earnings per share for the current year.

Insider Transactions at Lockheed Martin

In other news, SVP Maryanne Lavan sold 4,022 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Gregory M. Ulmer sold 6,204 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the transaction, the insider now owns 12,604 shares in the company, valued at approximately $5,434,718.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Maryanne Lavan sold 4,022 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total transaction of $1,747,116.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,874 shares of company stock valued at $7,249,946. 0.14% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LMT. Citigroup reduced their price objective on shares of Lockheed Martin from $540.00 to $508.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. The Goldman Sachs Group reduced their price objective on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $475.00 to $518.00 in a research note on Monday, April 15th. Royal Bank of Canada reduced their price objective on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 24th. Finally, Susquehanna reduced their price objective on shares of Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $475.80.

About Lockheed Martin

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.