Resona Asset Management Co. Ltd. Trims Stock Holdings in Lockheed Martin Corporation $LMT

Resona Asset Management Co. Ltd. reduced its stake in shares of Lockheed Martin Corporation (NYSE:LMT) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,978 shares of the aerospace company’s stock after selling 3,467 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Lockheed Martin were worth $36,355,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Carnegie Investment Counsel boosted its stake in shares of Lockheed Martin by 11.4% in the third quarter. Carnegie Investment Counsel now owns 29,639 shares of the aerospace company’s stock worth $14,796,000 after acquiring an additional 3,031 shares during the period. VCI Wealth Management LLC purchased a new position in Lockheed Martin in the 3rd quarter worth approximately $3,075,000. DAVENPORT & Co LLC boosted its stake in Lockheed Martin by 22.4% in the 3rd quarter. DAVENPORT & Co LLC now owns 25,423 shares of the aerospace company’s stock worth $12,688,000 after purchasing an additional 4,652 shares during the period. Farther Finance Advisors LLC grew its holdings in Lockheed Martin by 29.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 10,036 shares of the aerospace company’s stock valued at $5,010,000 after buying an additional 2,270 shares in the last quarter. Finally, Laffer Tengler Investments Inc. grew its holdings in Lockheed Martin by 482.6% during the 2nd quarter. Laffer Tengler Investments Inc. now owns 6,979 shares of the aerospace company’s stock valued at $3,232,000 after buying an additional 5,781 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Down 0.6%

NYSE:LMT opened at $590.30 on Friday. The company has a market cap of $136.59 billion, a price-to-earnings ratio of 32.96, a price-to-earnings-growth ratio of 1.69 and a beta of 0.24. Lockheed Martin Corporation has a twelve month low of $410.11 and a twelve month high of $596.22. The company has a current ratio of 1.13, a quick ratio of 0.97 and a debt-to-equity ratio of 3.32. The stock has a fifty day simple moving average of $495.94 and a 200-day simple moving average of $475.95.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, October 21st. The aerospace company reported $6.95 EPS for the quarter, topping analysts’ consensus estimates of $6.33 by $0.62. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. The firm had revenue of $18.61 billion for the quarter, compared to analysts’ expectations of $18.45 billion. During the same period in the prior year, the business posted $6.84 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. Analysts anticipate that Lockheed Martin Corporation will post 27.15 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on LMT shares. Wall Street Zen lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 13th. Susquehanna reissued a “positive” rating and set a $660.00 price objective on shares of Lockheed Martin in a report on Thursday, January 15th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $586.00 target price on shares of Lockheed Martin in a report on Monday, January 12th. TD Cowen boosted their target price on Lockheed Martin from $520.00 to $600.00 and gave the stock a “hold” rating in a research report on Wednesday, January 14th. Finally, Jefferies Financial Group raised their price target on Lockheed Martin from $500.00 to $540.00 and gave the company a “hold” rating in a report on Monday, January 12th. Five investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $543.82.

Lockheed Martin Company Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.