Lockheed Martin Co. (NYSE:LMT) Stake Lessened by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its stake in Lockheed Martin Co. (NYSE:LMT) by 33.4% in the 4th quarter, HoldingsChannel reports. The fund owned 7,636 shares of the aerospace company’s stock after selling 3,822 shares during the period. Illinois Municipal Retirement Fund’s holdings in Lockheed Martin were worth $3,461,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC boosted its holdings in Lockheed Martin by 10,526.6% during the fourth quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock worth $617,416,000 after buying an additional 1,349,409 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Lockheed Martin by 1.3% during the third quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock worth $9,120,920,000 after buying an additional 279,162 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Lockheed Martin by 28.5% during the third quarter. Envestnet Asset Management Inc. now owns 707,696 shares of the aerospace company’s stock worth $289,419,000 after buying an additional 156,842 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Lockheed Martin by 4.0% during the third quarter. Wellington Management Group LLP now owns 3,158,783 shares of the aerospace company’s stock worth $1,291,816,000 after buying an additional 121,358 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Lockheed Martin by 32.4% during the third quarter. AQR Capital Management LLC now owns 449,167 shares of the aerospace company’s stock worth $183,691,000 after buying an additional 110,021 shares in the last quarter. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Down 0.2 %

Lockheed Martin stock opened at $459.13 on Thursday. The company has a market capitalization of $110.42 billion, a P/E ratio of 16.80, a P/E/G ratio of 4.21 and a beta of 0.48. The firm’s fifty day simple moving average is $442.16 and its 200-day simple moving average is $444.14. The company has a current ratio of 1.30, a quick ratio of 1.03 and a debt-to-equity ratio of 2.89. Lockheed Martin Co. has a 1-year low of $393.77 and a 1-year high of $480.92.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, beating analysts’ consensus estimates of $5.80 by $0.53. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The business had revenue of $17.20 billion for the quarter, compared to the consensus estimate of $16.04 billion. During the same quarter last year, the firm earned $6.43 EPS. Lockheed Martin’s revenue for the quarter was up 13.7% on a year-over-year basis. Sell-side analysts forecast that Lockheed Martin Co. will post 26.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LMT has been the subject of a number of research reports. UBS Group raised their target price on shares of Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. raised shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $475.00 to $518.00 in a research note on Monday, April 15th. Morgan Stanley decreased their price objective on shares of Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. The Goldman Sachs Group decreased their price objective on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research note on Tuesday. Finally, Citigroup increased their target price on shares of Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin has an average rating of “Hold” and a consensus price target of $481.40.

Insider Activity at Lockheed Martin

In related news, SVP Maryanne Lavan sold 4,022 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Lockheed Martin news, insider Gregory M. Ulmer sold 6,204 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total value of $2,675,102.76. Following the sale, the insider now directly owns 12,604 shares in the company, valued at approximately $5,434,718.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maryanne Lavan sold 4,022 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total transaction of $1,747,116.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,874 shares of company stock worth $7,249,946. 0.17% of the stock is owned by insiders.

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. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.