Lockheed Martin Co. (NYSE:LMT) Shares Sold by Ignite Planners LLC

Ignite Planners LLC decreased its stake in Lockheed Martin Co. (NYSE:LMTGet Rating) by 29.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 601 shares of the aerospace company’s stock after selling 247 shares during the quarter. Ignite Planners LLC’s holdings in Lockheed Martin were worth $254,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Capital World Investors boosted its position in Lockheed Martin by 19.0% during the first quarter. Capital World Investors now owns 16,021,414 shares of the aerospace company’s stock worth $7,071,954,000 after purchasing an additional 2,558,881 shares in the last quarter. GQG Partners LLC purchased a new position in shares of Lockheed Martin in the first quarter valued at approximately $763,213,000. Vanguard Group Inc. lifted its position in shares of Lockheed Martin by 8.3% in the first quarter. Vanguard Group Inc. now owns 22,579,851 shares of the aerospace company’s stock valued at $9,966,746,000 after acquiring an additional 1,727,343 shares in the last quarter. Invesco Ltd. lifted its position in shares of Lockheed Martin by 49.6% in the first quarter. Invesco Ltd. now owns 1,858,507 shares of the aerospace company’s stock valued at $820,347,000 after acquiring an additional 615,798 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Lockheed Martin by 16.1% in the fourth quarter. Capital Research Global Investors now owns 3,288,398 shares of the aerospace company’s stock valued at $1,168,730,000 after acquiring an additional 456,524 shares in the last quarter. Hedge funds and other institutional investors own 75.50% of the company’s stock.

Analyst Ratings Changes

LMT has been the topic of several research reports. Wells Fargo & Company decreased their target price on Lockheed Martin from $496.00 to $406.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 20th. Royal Bank of Canada initiated coverage on Lockheed Martin in a report on Monday, August 29th. They issued a “sector perform” rating and a $460.00 price target for the company. Finally, Morgan Stanley cut their price target on Lockheed Martin from $525.00 to $522.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Lockheed Martin currently has an average rating of “Moderate Buy” and a consensus price target of $448.92.

Lockheed Martin Trading Down 2.7 %

Shares of NYSE LMT traded down $11.23 during trading on Friday, reaching $410.85. The stock had a trading volume of 33,659 shares, compared to its average volume of 1,094,717. Lockheed Martin Co. has a fifty-two week low of $324.23 and a fifty-two week high of $479.99. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.06 and a current ratio of 1.27. The business’s 50-day moving average price is $419.75 and its 200-day moving average price is $431.25. The company has a market cap of $108.94 billion, a P/E ratio of 24.43, a PEG ratio of 2.88 and a beta of 0.66.

Lockheed Martin (NYSE:LMTGet Rating) last issued its quarterly earnings data on Tuesday, July 19th. The aerospace company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $6.39 by ($5.23). Lockheed Martin had a net margin of 7.33% and a return on equity of 69.02%. The firm had revenue of $15.45 billion during the quarter, compared to analyst estimates of $16.02 billion. During the same period in the previous year, the firm posted $7.13 earnings per share. The company’s quarterly revenue was down 9.3% compared to the same quarter last year. On average, equities research analysts predict that Lockheed Martin Co. will post 26.8 EPS for the current fiscal year.

Insider Activity at Lockheed Martin

In related news, EVP Gregory M. Ulmer sold 6,929 shares of Lockheed Martin stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $423.87, for a total value of $2,936,995.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Gregory M. Ulmer sold 6,929 shares of Lockheed Martin stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $423.87, for a total value of $2,936,995.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Donovan bought 632 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The stock was bought at an average price of $396.16 per share, with a total value of $250,373.12. Following the completion of the acquisition, the director now owns 1,200 shares of the company’s stock, valued at approximately $475,392. The disclosure for this purchase can be found here. 0.17% of the stock is currently owned by company insiders.

About Lockheed Martin

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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, Rotary and Mission Systems, and Space.

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Institutional Ownership by Quarter for Lockheed Martin (NYSE:LMT)

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