Marks Group Wealth Management Inc Sells 235 Shares of Lockheed Martin Co. (NYSE:LMT)

Marks Group Wealth Management Inc cut its stake in Lockheed Martin Co. (NYSE:LMT) by 9.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,383 shares of the aerospace company’s stock after selling 235 shares during the period. Marks Group Wealth Management Inc’s holdings in Lockheed Martin were worth $1,080,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Stockman Wealth Management Inc. lifted its position in shares of Lockheed Martin by 1.8% during the fourth quarter. Stockman Wealth Management Inc. now owns 16,599 shares of the aerospace company’s stock worth $7,523,000 after purchasing an additional 292 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of Lockheed Martin by 36.9% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,346 shares of the aerospace company’s stock worth $1,437,000 after purchasing an additional 902 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Lockheed Martin by 364.0% during the fourth quarter. Larson Financial Group LLC now owns 116 shares of the aerospace company’s stock worth $53,000 after purchasing an additional 91 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of Lockheed Martin during the fourth quarter valued at $206,000. Finally, Foster & Motley Inc. increased its stake in shares of Lockheed Martin by 9.7% during the fourth quarter. Foster & Motley Inc. now owns 10,148 shares of the aerospace company’s stock valued at $4,599,000 after buying an additional 900 shares during the period. 74.19% of the stock is currently owned by institutional investors.

Lockheed Martin Stock Down 0.2 %

Shares of LMT stock traded down $0.96 during trading hours on Tuesday, reaching $460.37. 1,194,821 shares of the company’s stock were exchanged, compared to its average volume of 1,168,584. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $483.53. The stock has a market cap of $110.71 billion, a PE ratio of 16.96, a PEG ratio of 4.23 and a beta of 0.48. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 2.53. The stock’s fifty day moving average price is $440.67 and its two-hundred day moving average price is $443.62.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, January 23rd. The aerospace company reported $7.90 earnings per share for the quarter, topping analysts’ consensus estimates of $7.26 by $0.64. Lockheed Martin had a return on equity of 79.91% and a net margin of 10.24%. The business had revenue of $18.87 billion for the quarter, compared to analyst estimates of $17.96 billion. During the same quarter in the previous year, the firm earned $7.79 earnings per share. The company’s revenue was down .6% on a year-over-year basis. Research analysts predict that Lockheed Martin Co. will post 26.13 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on LMT. JPMorgan Chase & Co. upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating and raised their price target for the company from $475.00 to $518.00 in a research note on Monday, April 15th. Deutsche Bank Aktiengesellschaft raised their price target on Lockheed Martin from $438.00 to $472.00 in a research note on Monday, January 22nd. Royal Bank of Canada cut their price target on Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 24th. UBS Group cut their target price on Lockheed Martin from $488.00 to $475.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. Finally, Morgan Stanley cut their target price on Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $475.80.

Insider Transactions at Lockheed Martin

In related news, insider Gregory M. Ulmer sold 6,204 shares of Lockheed Martin stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the completion of the sale, the insider now owns 12,604 shares of the company’s stock, valued at $5,434,718.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $2,675,102.76. Following the completion of the transaction, the insider now directly owns 12,604 shares of the company’s stock, valued at $5,434,718.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,874 shares of company stock worth $7,249,946. Insiders own 0.14% of the company’s stock.

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.