Pennsylvania Trust Co decreased its holdings in shares of Lockheed Martin Co. (NYSE:LMT) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,549 shares of the aerospace company’s stock after selling 250 shares during the quarter. Pennsylvania Trust Co’s holdings in Lockheed Martin were worth $4,107,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Accurate Investment Solutions Inc. grew its stake in shares of Lockheed Martin by 257.1% during the third quarter. Accurate Investment Solutions Inc. now owns 75 shares of the aerospace company’s stock valued at $29,000 after buying an additional 54 shares during the last quarter. KCS Wealth Advisory purchased a new stake in shares of Lockheed Martin in the third quarter valued at about $37,000. NewSquare Capital LLC purchased a new stake in shares of Lockheed Martin in the second quarter valued at about $42,000. Virtus ETF Advisers LLC purchased a new stake in shares of Lockheed Martin in the second quarter valued at about $43,000. Finally, Ellis Investment Partners LLC raised its holdings in shares of Lockheed Martin by 41.2% in the third quarter. Ellis Investment Partners LLC now owns 137 shares of the aerospace company’s stock valued at $53,000 after buying an additional 40 shares during the last quarter. 78.42% of the stock is owned by institutional investors and hedge funds.
LMT stock opened at $421.95 on Thursday. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.28 and a quick ratio of 1.05. The firm has a market capitalization of $117.38 billion, a PE ratio of 23.64, a P/E/G ratio of 2.42 and a beta of 0.94. Lockheed Martin Co. has a 12 month low of $270.63 and a 12 month high of $421.48. The company’s 50 day simple moving average is $395.27 and its 200-day simple moving average is $382.23.
Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, October 22nd. The aerospace company reported $5.66 EPS for the quarter, beating the Zacks’ consensus estimate of $5.02 by $0.64. Lockheed Martin had a net margin of 10.26% and a return on equity of 221.59%. The business had revenue of $15.17 billion for the quarter, compared to the consensus estimate of $14.87 billion. During the same quarter last year, the firm posted $5.14 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lockheed Martin Co. will post 21.62 earnings per share for the current year.
Lockheed Martin declared that its Board of Directors has approved a share buyback plan on Thursday, September 26th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to reacquire up to 1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
A number of equities research analysts have recently commented on LMT shares. JPMorgan Chase & Co. reduced their target price on shares of Lockheed Martin from $395.00 to $360.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. UBS Group upped their target price on shares of Lockheed Martin from $440.00 to $470.00 and gave the company a “buy” rating in a report on Wednesday. ValuEngine cut shares of Lockheed Martin from a “hold” rating to a “sell” rating in a report on Saturday, October 19th. Barclays reiterated a “hold” rating and set a $410.00 price target on shares of Lockheed Martin in a research note on Wednesday, October 9th. Finally, Morgan Stanley boosted their price target on shares of Lockheed Martin from $364.00 to $375.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $387.91.
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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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