Sterling Financial Group Inc. Reduces Holdings in Lockheed Martin Co. (NYSE:LMT)

Sterling Financial Group Inc. decreased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 15.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 945 shares of the aerospace company’s stock after selling 167 shares during the period. Sterling Financial Group Inc.’s holdings in Lockheed Martin were worth $459,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of LMT. Geode Capital Management LLC raised its holdings in Lockheed Martin by 1.8% in the third quarter. Geode Capital Management LLC now owns 4,827,645 shares of the aerospace company’s stock worth $2,816,898,000 after purchasing an additional 83,997 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. Wellington Management Group LLP increased its stake in shares of Lockheed Martin by 8.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,074,855 shares of the aerospace company’s stock worth $1,797,437,000 after acquiring an additional 240,306 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Lockheed Martin by 1.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,942,658 shares of the aerospace company’s stock valued at $902,714,000 after acquiring an additional 31,545 shares during the period. Finally, International Assets Investment Management LLC lifted its position in Lockheed Martin by 60,592.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,559,178 shares of the aerospace company’s stock valued at $911,433,000 after acquiring an additional 1,556,609 shares during the period. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Lockheed Martin Trading Up 0.5 %

Shares of LMT stock opened at $486.48 on Friday. 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 12-month low of $413.92 and a 12-month high of $618.95. The stock has a market capitalization of $115.32 billion, a P/E ratio of 17.61, a P/E/G ratio of 3.76 and a beta of 0.48. The firm’s 50 day moving average is $507.59 and its 200 day moving average is $535.22.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, topping the consensus estimate of $6.50 by $0.34. Lockheed Martin had a return on equity of 101.44% and a net margin of 9.36%. The company had revenue of $17.10 billion during the quarter, compared to analyst estimates of $17.38 billion. During the same quarter in the previous year, the company posted $6.77 earnings per share. Lockheed Martin’s revenue was up 1.3% compared to the same quarter last year. Research analysts expect that Lockheed Martin Co. will post 26.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on LMT shares. StockNews.com downgraded shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. Wells Fargo & Company reduced their price objective 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. Barclays lowered their price objective on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a research note on Monday, January 6th. Robert W. Baird raised their price target on Lockheed Martin from $519.00 to $626.00 in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered Lockheed Martin from a “buy” rating to a “hold” rating and lowered their price target for the stock from $611.00 to $523.00 in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $584.40.

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.