Grove Bank & Trust Buys 35 Shares of Lockheed Martin Co. (NYSE:LMT)

Grove Bank & Trust increased its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 4.9% in the fourth quarter, HoldingsChannel reports. The firm owned 745 shares of the aerospace company’s stock after buying an additional 35 shares during the period. Grove Bank & Trust’s holdings in Lockheed Martin were worth $362,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in LMT. AE Wealth Management LLC lifted its position in Lockheed Martin by 95.3% during the second quarter. AE Wealth Management LLC now owns 10,943 shares of the aerospace company’s stock valued at $5,112,000 after acquiring an additional 5,340 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Lockheed Martin by 7.3% during the 2nd quarter. Pacer Advisors Inc. now owns 25,279 shares of the aerospace company’s stock valued at $11,808,000 after purchasing an additional 1,724 shares during the last quarter. Sei Investments Co. boosted its position in shares of Lockheed Martin by 60.2% in the 2nd quarter. Sei Investments Co. now owns 71,344 shares of the aerospace company’s stock worth $33,327,000 after purchasing an additional 26,797 shares in the last quarter. Merriman Wealth Management LLC purchased a new position in Lockheed Martin during the 2nd quarter worth $223,000. Finally, ProShare Advisors LLC increased its position in Lockheed Martin by 6.0% during the 2nd quarter. ProShare Advisors LLC now owns 33,727 shares of the aerospace company’s stock valued at $15,754,000 after buying an additional 1,921 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on LMT shares. Barclays lowered their price target on Lockheed Martin from $565.00 to $515.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. dropped their target price on shares of Lockheed Martin from $546.00 to $540.00 and set an “overweight” rating on the stock in a research report on Thursday. StockNews.com cut shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a report on Friday, January 3rd. Citigroup upped their target price on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Susquehanna dropped their price target on Lockheed Martin from $695.00 to $590.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $584.40.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $490.60 on Monday. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.30 and a quick ratio of 1.12. The stock has a market capitalization of $116.29 billion, a price-to-earnings ratio of 17.76, a PEG ratio of 3.76 and a beta of 0.48. The firm’s 50 day simple moving average is $504.80 and its 200-day simple moving average is $535.54. Lockheed Martin Co. has a 12 month low of $413.92 and a 12 month high of $618.95.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34. The company had revenue of $17.10 billion for the quarter, compared to analyst estimates of $17.38 billion. Lockheed Martin had a net margin of 9.36% and a return on equity of 101.44%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the business earned $6.77 earnings per share. Analysts expect that Lockheed Martin Co. will post 26.89 EPS for the current year.

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.