Waverton Investment Management Ltd trimmed its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 2.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,402 shares of the aerospace company’s stock after selling 770 shares during the period. Lockheed Martin accounts for 0.6% of Waverton Investment Management Ltd’s portfolio, making the stock its 24th largest holding. Waverton Investment Management Ltd’s holdings in Lockheed Martin were worth $9,531,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of LMT. Man Group plc grew its stake in shares of Lockheed Martin by 63.0% in the 3rd quarter. Man Group plc now owns 70,260 shares of the aerospace company’s stock worth $24,307,000 after buying an additional 27,160 shares in the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in shares of Lockheed Martin by 277.3% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 26,952 shares of the aerospace company’s stock worth $9,324,000 after buying an additional 19,808 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Lockheed Martin by 182.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 26,204 shares of the aerospace company’s stock worth $9,065,000 after buying an additional 16,918 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Lockheed Martin by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 21,266,343 shares of the aerospace company’s stock worth $7,357,305,000 after buying an additional 199,456 shares in the last quarter. Finally, Welch Group LLC grew its stake in shares of Lockheed Martin by 3.0% in the 3rd quarter. Welch Group LLC now owns 81,044 shares of the aerospace company’s stock worth $28,038,000 after buying an additional 2,356 shares in the last quarter. 77.66% of the stock is owned by institutional investors.
In related news, VP Bruce L. Tanner sold 11,203 shares of Lockheed Martin stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $308.49, for a total transaction of $3,456,013.47. Following the completion of the sale, the vice president now owns 79,770 shares in the company, valued at approximately $24,608,247.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.35% of the company’s stock.
A number of brokerages have commented on LMT. Morgan Stanley reissued an “equal weight” rating on shares of Lockheed Martin in a research note on Thursday. Susquehanna Bancshares began coverage on shares of Lockheed Martin in a report on Thursday. They issued a “positive” rating and a $321.00 target price for the company. Vertical Research upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $340.00 target price for the company in a report on Thursday. Vertical Group upgraded shares of Lockheed Martin from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Jefferies Financial Group restated a “hold” rating and issued a $274.00 target price on shares of Lockheed Martin in a report on Wednesday, January 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $358.60.
LMT traded down $2.71 on Monday, reaching $275.02. 5,694 shares of the company traded hands, compared to its average volume of 1,395,996. Lockheed Martin Co. has a one year low of $241.18 and a one year high of $363.00. The firm has a market capitalization of $76.95 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 2.31 and a beta of 0.96. The company has a debt-to-equity ratio of 13.46, a current ratio of 1.11 and a quick ratio of 0.91.
Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, October 23rd. The aerospace company reported $5.14 earnings per share for the quarter, beating analysts’ consensus estimates of $4.31 by $0.83. Lockheed Martin had a net margin of 5.78% and a return on equity of 2,680.55%. The company had revenue of $14.32 billion during the quarter, compared to analyst estimates of $13.10 billion. During the same quarter last year, the business posted $3.24 EPS. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, equities analysts anticipate that Lockheed Martin Co. will post 17.74 earnings per share for the current fiscal year.
Lockheed Martin announced that its Board of Directors has authorized a share repurchase plan on Thursday, September 27th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the aerospace company to reacquire up to 1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
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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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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