GSB Wealth Management LLC lessened its position in Lockheed Martin Co. (NYSE:LMT – Get Rating) by 5.0% in the 2nd quarter, Holdings Channel reports. The fund owned 5,849 shares of the aerospace company's stock after selling 308 shares during the period. GSB Wealth Management LLC's holdings in Lockheed Martin were worth $2,515,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in LMT. LCM Capital Management Inc grew its stake in Lockheed Martin by 0.7% in the 1st quarter. LCM Capital Management Inc now owns 3,416 shares of the aerospace company's stock valued at $1,508,000 after acquiring an additional 23 shares during the last quarter. Byrne Asset Management LLC raised its position in shares of Lockheed Martin by 5.3% during the 1st quarter. Byrne Asset Management LLC now owns 479 shares of the aerospace company's stock worth $211,000 after purchasing an additional 24 shares during the last quarter. Menard Financial Group LLC boosted its stake in shares of Lockheed Martin by 2.6% during the first quarter. Menard Financial Group LLC now owns 931 shares of the aerospace company's stock valued at $411,000 after acquiring an additional 24 shares during the last quarter. D.B. Root & Company LLC boosted its stake in shares of Lockheed Martin by 0.8% during the first quarter. D.B. Root & Company LLC now owns 3,180 shares of the aerospace company's stock valued at $1,403,000 after acquiring an additional 24 shares during the last quarter. Finally, Bank of New Hampshire raised its position in shares of Lockheed Martin by 3.2% in the first quarter. Bank of New Hampshire now owns 800 shares of the aerospace company's stock valued at $353,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds own 75.50% of the company's stock.
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Lockheed Martin Stock Down 1.9 %
Shares of LMT stock traded down $7.47 on Thursday, hitting $392.53. The stock had a trading volume of 12,876 shares, compared to its average volume of 1,199,540. The firm has a market capitalization of $104.08 billion, a price-to-earnings ratio of 23.15, a P/E/G ratio of 2.74 and a beta of 0.66. The stock's 50 day moving average is $420.73 and its 200-day moving average is $430.14. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.06 and a current ratio of 1.27. Lockheed Martin Co. has a 52-week low of $324.23 and a 52-week high of $479.99.
Lockheed Martin (NYSE:LMT – Get Rating) last announced its earnings results on Tuesday, July 19th. The aerospace company reported $6.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.29 by $0.03. Lockheed Martin had a return on equity of 69.02% and a net
margin of 7.33%. The business had revenue of $15.45 billion for the quarter, compared to analyst estimates of $16.02 billion. During the same period in the previous year, the company earned $7.13 earnings per share. The company's revenue for the quarter was down 9.3% compared to the same quarter last year. As a group, research analysts expect that Lockheed Martin Co. will post 26.8 earnings per share for the current year.
Insider Activity
In other news, EVP Gregory M. Ulmer sold 6,929 shares of the business's stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $423.87, for a total value of $2,936,995.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director John Donovan purchased 632 shares of the firm's stock in a transaction on Wednesday, July 20th. The stock was purchased at an average cost of $396.16 per share, with a total value of $250,373.12. Following the purchase, the director now owns 1,200 shares in the company, valued at approximately $475,392. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory M. Ulmer sold 6,929 shares of the business's stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $423.87, for a total transaction of $2,936,995.23. The disclosure for this sale can be found here. Company insiders own 0.17% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on LMT. Morgan Stanley cut 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. StockNews.com raised shares of Lockheed Martin from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 23rd. Royal Bank of Canada initiated coverage on shares of Lockheed Martin in a research report on Monday, August 29th. They issued a "sector perform" rating and a $460.00 target price on the stock. Finally, Wells Fargo & Company lowered shares of Lockheed Martin from an "equal weight" rating to an "underweight" rating and set a $415.00 price target for the company. in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Lockheed Martin 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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