Highland Capital Management LLC Sells 158 Shares of Lockheed Martin Co. (NYSE:LMT)

Highland Capital Management LLC trimmed its position in Lockheed Martin Co. (NYSE:LMTGet Rating) by 2.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 7,054 shares of the aerospace company’s stock after selling 158 shares during the quarter. Highland Capital Management LLC’s holdings in Lockheed Martin were worth $3,033,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LMT. Gamco Investors INC. ET AL grew its position in Lockheed Martin by 69.1% in the fourth quarter. Gamco Investors INC. ET AL now owns 2,876 shares of the aerospace company’s stock worth $1,022,000 after acquiring an additional 1,175 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of Lockheed Martin by 0.4% in the fourth quarter. Blair William & Co. IL now owns 25,313 shares of the aerospace company’s stock valued at $8,997,000 after acquiring an additional 109 shares in the last quarter. Mmbg Investment Advisors CO. bought a new stake in shares of Lockheed Martin in the fourth quarter valued at about $384,000. LPL Financial LLC raised its holdings in shares of Lockheed Martin by 8.2% in the fourth quarter. LPL Financial LLC now owns 371,376 shares of the aerospace company’s stock valued at $131,991,000 after acquiring an additional 28,198 shares in the last quarter. Finally, William Allan LLC bought a new position in Lockheed Martin in the fourth quarter worth about $790,000. Hedge funds and other institutional investors own 75.50% of the company’s stock.

Insiders Place Their Bets

In other Lockheed Martin news, EVP Gregory M. Ulmer sold 6,929 shares of the company’s stock in a transaction that occurred 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 SEC, which is accessible through this link. In other news, Director John Donovan acquired 632 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 20th. The stock was purchased at an average cost of $396.16 per share, with a total value of $250,373.12. Following the purchase, the director now owns 1,200 shares in the company, valued at $475,392. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory M. Ulmer sold 6,929 shares of the firm’s 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 disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada assumed coverage on Lockheed Martin in a research note on Monday, August 29th. They set a “sector perform” rating and a $460.00 price target on the stock. Morgan Stanley dropped their price target on Lockheed Martin from $525.00 to $522.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 20th. Finally, Wells Fargo & Company dropped their price target on Lockheed Martin from $496.00 to $406.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 20th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Lockheed Martin currently has a consensus rating of “Moderate Buy” and a consensus target price of $448.92.

Lockheed Martin Price Performance

Shares of NYSE LMT opened at $422.08 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.27 and a debt-to-equity ratio of 1.02. Lockheed Martin Co. has a 52 week low of $324.23 and a 52 week high of $479.99. The business’s 50 day moving average price is $419.75 and its 200 day moving average price is $431.25. The firm has a market cap of $111.91 billion, a P/E ratio of 24.43, a P/E/G ratio of 2.88 and a beta of 0.66.

Lockheed Martin (NYSE:LMTGet Rating) last released its quarterly earnings data on Tuesday, July 19th. The aerospace company reported $1.16 EPS for the quarter, missing the consensus estimate of $6.39 by ($5.23). Lockheed Martin had a return on equity of 69.02% and a net margin of 7.33%. The company had revenue of $15.45 billion during the quarter, compared to analysts’ expectations of $16.02 billion. During the same quarter in the prior year, the company posted $7.13 EPS. The company’s revenue for the quarter was down 9.3% on a year-over-year basis. On average, sell-side analysts expect that Lockheed Martin Co. will post 26.8 earnings per share for the current year.

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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