Geneos Wealth Management Inc. Sells 437 Shares of Lockheed Martin Co. (NYSE:LMT)

Geneos Wealth Management Inc. cut its stake in Lockheed Martin Co. (NYSE:LMT) by 16.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,147 shares of the aerospace company’s stock after selling 437 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Lockheed Martin were worth $1,043,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC boosted its position in shares of Lockheed Martin by 60,592.0% during the third quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after purchasing an additional 1,556,609 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Lockheed Martin by 124.0% during the third quarter. Los Angeles Capital Management LLC now owns 450,870 shares of the aerospace company’s stock valued at $263,561,000 after buying an additional 249,591 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Lockheed Martin by 8.5% during the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock valued at $1,797,437,000 after buying an additional 240,306 shares in the last quarter. FMR LLC grew its position in shares of Lockheed Martin by 6.6% in the 3rd quarter. FMR LLC now owns 3,389,025 shares of the aerospace company’s stock worth $1,981,088,000 after buying an additional 209,591 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in shares of Lockheed Martin by 49.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 480,947 shares of the aerospace company’s stock worth $281,142,000 after acquiring an additional 158,064 shares in the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Barclays cut their price objective on shares of Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating on the stock in a report on Monday, January 6th. Robert W. Baird upped their price target on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday, October 22nd. UBS Group lifted their price objective on Lockheed Martin from $589.00 to $603.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft cut Lockheed Martin from a “buy” rating to a “hold” rating and cut their target price for the stock from $611.00 to $523.00 in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company lowered their price target on Lockheed Martin from $543.00 to $500.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $577.73.

Lockheed Martin Price Performance

Shares of LMT opened at $503.19 on Tuesday. The firm has a fifty day simple moving average of $499.24 and a two-hundred day simple moving average of $537.29. The firm has a market cap of $119.28 billion, a PE ratio of 18.22, a P/E/G ratio of 4.05 and a beta of 0.48. The company has a current ratio of 1.30, a quick ratio of 1.12 and a debt-to-equity ratio of 2.66. Lockheed Martin Co. has a 1-year low of $413.92 and a 1-year high of $618.95.

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