First Fiduciary Investment Counsel Inc. cut its position in Lockheed Martin Co. (NYSE:LMT – Get Rating) by 0.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 19,658 shares of the aerospace company's stock after selling 125 shares during the period. Lockheed Martin makes up about 1.9% of First Fiduciary Investment Counsel Inc.'s investment portfolio, making the stock its 26th largest position. First Fiduciary Investment Counsel Inc.'s holdings in Lockheed Martin were worth $8,452,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in LMT. Eaton Vance Management boosted its position in Lockheed Martin by 0.3% during the fourth quarter. Eaton Vance Management now owns 221,978 shares of the aerospace company's stock worth $76,099,000 after purchasing an additional 672 shares during the period. Bayesian Capital Management LP bought a new position in Lockheed Martin during the fourth quarter worth $214,000. Bluefin Capital Management LLC boosted its position in Lockheed Martin by 331.7% during the fourth quarter. Bluefin Capital Management LLC now owns 3,000 shares of the aerospace company's stock worth $1,066,000 after purchasing an additional 2,305 shares during the period. Blue Barn Wealth LLC bought a new position in Lockheed Martin during the fourth quarter worth $220,000. Finally, Lombard Odier Asset Management Switzerland SA bought a new position in Lockheed Martin during the fourth quarter worth $396,000. 75.50% of the stock is owned by institutional investors.
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Lockheed Martin Price Performance
Shares of NYSE LMT traded down $7.70 during trading hours on Wednesday, reaching $392.04. 2,937 shares of the stock traded hands, compared to its average volume of 1,195,739. The company has a market capitalization of $103.95 billion, a P/E ratio of 23.13, a price-to-earnings-growth ratio of 2.79 and a beta of 0.66. The company has a quick ratio of 1.06, a current ratio of 1.27 and a debt-to-equity ratio of 1.02. Lockheed Martin Co. has a 52-week low of $324.23 and a 52-week high of $479.99. The company's 50-day simple moving average is $420.63 and its two-hundred day simple moving average is $430.35.
Lockheed Martin (NYSE:LMT – Get Rating) last announced its quarterly earnings data on Tuesday, July 19th. The aerospace company reported $6.32 earnings per share for the quarter, beating analysts' consensus estimates of $6.29 by $0.03. The company had revenue of $15.45 billion for the quarter, compared to analysts' expectations of $16.02 billion. Lockheed Martin had a return on equity of 69.02% and a net
margin of 7.33%. Lockheed Martin's revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period last year, the firm posted $7.13 EPS. Equities research analysts forecast that Lockheed Martin Co. will post 26.8 EPS for the current year.
Insider Buying and Selling
In related news, EVP Gregory M. Ulmer sold 6,929 shares of the firm's stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $423.87, for a total transaction of $2,936,995.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Gregory M. Ulmer sold 6,929 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $423.87, for a total value of $2,936,995.23. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John Donovan acquired 632 shares of the business's stock in a transaction dated Wednesday, July 20th. The stock was acquired at an average price of $396.16 per share, for a total transaction of $250,373.12. Following the completion of the transaction, the director now owns 1,200 shares in the company, valued at approximately $475,392. The disclosure for this purchase can be found here. 0.17% of the stock is owned by corporate insiders.
Analyst Ratings Changes
LMT has been the subject of a number of research analyst reports. Morgan Stanley reduced their price objective on shares of Lockheed Martin from $525.00 to $522.00 and set an "overweight" rating for the company in a research report on Wednesday, July 20th. Royal Bank of Canada assumed coverage on Lockheed Martin in a report on Monday, August 29th. They set a "sector perform" rating and a $460.00 target price for the company. StockNews.com raised Lockheed Martin from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 23rd. Finally, Wells Fargo & Company downgraded Lockheed Martin from an "equal weight" rating to an "underweight" rating and set a $415.00 price target for the company. in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $453.58.
Lockheed Martin Company Profile
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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, Rotary and Mission Systems, and Space.
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