Spinnaker Trust Sells 105 Shares of Lockheed Martin Co. (NYSE:LMT)

Spinnaker Trust decreased its position in Lockheed Martin Co. (NYSE:LMT) by 14.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 621 shares of the aerospace company’s stock after selling 105 shares during the quarter. Spinnaker Trust’s holdings in Lockheed Martin were worth $281,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LMT. International Assets Investment Management LLC raised its stake in shares of Lockheed Martin by 10,526.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock valued at $617,416,000 after purchasing an additional 1,349,409 shares during the period. Vanguard Group Inc. increased its position in shares of Lockheed Martin by 1.3% in the third quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock valued at $9,120,920,000 after acquiring an additional 279,162 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Lockheed Martin by 28.5% in the third quarter. Envestnet Asset Management Inc. now owns 707,696 shares of the aerospace company’s stock valued at $289,419,000 after acquiring an additional 156,842 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Lockheed Martin by 4.0% in the third quarter. Wellington Management Group LLP now owns 3,158,783 shares of the aerospace company’s stock valued at $1,291,816,000 after acquiring an additional 121,358 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Lockheed Martin by 32.4% in the third quarter. AQR Capital Management LLC now owns 449,167 shares of the aerospace company’s stock valued at $183,691,000 after acquiring an additional 110,021 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on LMT shares. Royal Bank of Canada lowered their target price on Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 24th. Susquehanna reduced their price target on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a report on Wednesday, January 24th. Morgan Stanley reduced their price target on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. Citigroup lifted their price target on Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company lifted their price target on Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $485.40.

Lockheed Martin Stock Performance

Shares of NYSE:LMT traded down $3.49 during trading on Friday, reaching $461.29. 857,964 shares of the stock were exchanged, compared to its average volume of 1,102,151. The company has a current ratio of 1.30, a quick ratio of 1.03 and a debt-to-equity ratio of 2.89. The firm has a market cap of $110.68 billion, a PE ratio of 16.88, a PEG ratio of 4.25 and a beta of 0.48. The stock has a 50-day moving average price of $443.74 and a 200-day moving average price of $444.46. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $479.50.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.53. The business had revenue of $17.20 billion during the quarter, compared to analysts’ expectations of $16.04 billion. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the previous year, the company posted $6.43 earnings per share. Research analysts expect that Lockheed Martin Co. will post 26.05 EPS for the current fiscal year.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gregory M. Ulmer sold 6,204 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the transaction, the insider now owns 12,604 shares of the company’s stock, valued at $5,434,718.76. The disclosure for this sale can be found here. Insiders sold a total of 16,874 shares of company stock worth $7,249,946 over the last three months. Corporate insiders own 0.17% of the company’s stock.

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.