Cercano Management LLC Invests $29.45 Million in Lockheed Martin Co. (NYSE:LMT)

Cercano Management LLC purchased a new position in Lockheed Martin Co. (NYSE:LMT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 64,985 shares of the aerospace company’s stock, valued at approximately $29,454,000. Lockheed Martin comprises 1.0% of Cercano Management LLC’s investment portfolio, making the stock its 26th biggest position.

Several other hedge funds have also recently modified their holdings of the business. Citizens Financial Group Inc. RI raised its stake in shares of Lockheed Martin by 3.2% in the fourth quarter. Citizens Financial Group Inc. RI now owns 10,619 shares of the aerospace company’s stock worth $4,813,000 after purchasing an additional 328 shares during the last quarter. Cornerstone Capital Inc. raised its stake in shares of Lockheed Martin by 41.8% in the fourth quarter. Cornerstone Capital Inc. now owns 2,680 shares of the aerospace company’s stock worth $1,215,000 after purchasing an additional 790 shares during the last quarter. KFA Private Wealth Group LLC bought a new stake in shares of Lockheed Martin in the fourth quarter worth $215,000. Kovack Advisors Inc. grew its holdings in shares of Lockheed Martin by 11.3% in the fourth quarter. Kovack Advisors Inc. now owns 2,907 shares of the aerospace company’s stock worth $1,317,000 after acquiring an additional 294 shares during the period. Finally, First Fiduciary Investment Counsel Inc. grew its holdings in shares of Lockheed Martin by 44.5% in the fourth quarter. First Fiduciary Investment Counsel Inc. now owns 26,735 shares of the aerospace company’s stock worth $12,117,000 after acquiring an additional 8,232 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insider Activity

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

Lockheed Martin Stock Performance

NYSE:LMT traded down $3.49 during mid-day trading on Friday, hitting $461.29. 857,964 shares of the company traded hands, compared to its average volume of 1,102,151. The stock’s fifty day moving average price is $443.74 and its 200-day moving average price is $444.53. Lockheed Martin Co. has a one year low of $393.77 and a one year high of $479.50. The firm has a market cap of $110.68 billion, a price-to-earnings ratio of 16.88, a price-to-earnings-growth ratio of 4.22 and a beta of 0.48. The company has a quick ratio of 1.03, a current ratio of 1.30 and a debt-to-equity ratio of 2.89.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 EPS for the quarter, beating the consensus estimate of $5.80 by $0.53. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The business had revenue of $17.20 billion for the quarter, compared to the consensus estimate of $16.04 billion. During the same period in the previous year, the business earned $6.43 earnings per share. The business’s revenue was up 13.7% on a year-over-year basis. Research analysts anticipate that Lockheed Martin Co. will post 26.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LMT has been the subject of several research analyst reports. The Goldman Sachs Group cut their price objective on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on Lockheed Martin from $467.00 to $487.00 and gave the stock a “hold” rating in a report on Thursday. Susquehanna cut their price objective on Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a report on Wednesday, January 24th. Wells Fargo & Company lifted their price objective on Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, UBS Group lifted their price objective on Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Lockheed Martin currently has an average rating of “Hold” and an average price target of $485.40.

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.