Abner Herrman & Brock LLC decreased its holdings in Lockheed Martin Co. (NYSE:LMT) by 1.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,136 shares of the aerospace company’s stock after selling 938 shares during the period. Lockheed Martin makes up about 2.3% of Abner Herrman & Brock LLC’s holdings, making the stock its 17th biggest holding. Abner Herrman & Brock LLC’s holdings in Lockheed Martin were worth $12,604,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Cullinan Associates Inc. boosted its stake in shares of Lockheed Martin by 33.3% in the 4th quarter. Cullinan Associates Inc. now owns 1,200 shares of the aerospace company’s stock valued at $314,000 after purchasing an additional 300 shares in the last quarter. Carroll Financial Associates Inc. boosted its position in Lockheed Martin by 9.9% during the 4th quarter. Carroll Financial Associates Inc. now owns 542 shares of the aerospace company’s stock valued at $145,000 after buying an additional 49 shares during the period. Northstar Investment Advisors LLC boosted its position in Lockheed Martin by 593.8% during the 4th quarter. Northstar Investment Advisors LLC now owns 9,304 shares of the aerospace company’s stock valued at $2,436,000 after buying an additional 7,963 shares during the period. State of Alaska Department of Revenue boosted its position in Lockheed Martin by 3.0% during the 4th quarter. State of Alaska Department of Revenue now owns 71,130 shares of the aerospace company’s stock valued at $18,623,000 after buying an additional 2,040 shares during the period. Finally, Cerebellum GP LLC boosted its position in Lockheed Martin by 75.4% during the 4th quarter. Cerebellum GP LLC now owns 1,000 shares of the aerospace company’s stock valued at $262,000 after buying an additional 430 shares during the period. 77.66% of the stock is owned by institutional investors.
Shares of NYSE:LMT traded down $2.08 on Friday, hitting $275.42. The company had a trading volume of 59,475 shares, compared to its average volume of 1,549,920. Lockheed Martin Co. has a 1 year low of $241.18 and a 1 year high of $363.00. The company has a current ratio of 1.11, a quick ratio of 0.91 and a debt-to-equity ratio of 13.46. The stock has a market cap of $76.95 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 2.31 and a beta of 0.96.
Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 23rd. The aerospace company reported $5.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.31 by $0.83. Lockheed Martin had a net margin of 5.78% and a return on equity of 2,680.55%. The firm had revenue of $14.32 billion during the quarter, compared to analysts’ expectations of $13.10 billion. During the same period last year, the company posted $3.24 EPS. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. Equities analysts forecast that Lockheed Martin Co. will post 17.74 EPS for the current fiscal year.
Lockheed Martin declared that its Board of Directors has initiated a stock buyback program on Thursday, September 27th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the aerospace company to repurchase up to 1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.
LMT has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Lockheed Martin from $395.00 to $370.00 and set a “neutral” rating for the company in a research report on Wednesday, October 24th. Goldman Sachs Group raised shares of Lockheed Martin from a “neutral” rating to a “conviction-buy” rating and increased their price target for the company from $391.00 to $394.00 in a research report on Wednesday, October 24th. Morgan Stanley set a $386.00 price target on shares of Lockheed Martin and gave the company a “buy” rating in a research report on Thursday, October 11th. ValuEngine raised shares of Lockheed Martin from a “sell” rating to a “hold” rating in a research report on Tuesday, December 11th. Finally, Barclays dropped their price target on shares of Lockheed Martin from $369.00 to $325.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $358.60.
In related news, VP Bruce L. Tanner sold 11,203 shares of the stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $308.49, for a total value of $3,456,013.47. Following the completion of the transaction, the vice president now directly owns 79,770 shares in the company, valued at approximately $24,608,247.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.35% of the company’s stock.
Lockheed Martin Company 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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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