Hartline Investment Corp Increases Stake in Lockheed Martin Co. (NYSE:LMT)

Hartline Investment Corp grew its position in Lockheed Martin Co. (NYSE:LMT) by 218.0% during the 4th quarter, HoldingsChannel reports. The fund owned 2,156 shares of the aerospace company’s stock after purchasing an additional 1,478 shares during the period. Hartline Investment Corp’s holdings in Lockheed Martin were worth $977,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in LMT. Triumph Capital Management grew its holdings in Lockheed Martin by 3.1% during the 3rd quarter. Triumph Capital Management now owns 723 shares of the aerospace company’s stock worth $296,000 after acquiring an additional 22 shares in the last quarter. Abbrea Capital LLC boosted its holdings in shares of Lockheed Martin by 1.7% in the 3rd quarter. Abbrea Capital LLC now owns 1,397 shares of the aerospace company’s stock valued at $571,000 after buying an additional 23 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of Lockheed Martin by 1.6% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 1,429 shares of the aerospace company’s stock valued at $584,000 after buying an additional 23 shares in the last quarter. Duncker Streett & Co. Inc. boosted its holdings in shares of Lockheed Martin by 1.2% in the 3rd quarter. Duncker Streett & Co. Inc. now owns 2,013 shares of the aerospace company’s stock valued at $823,000 after buying an additional 24 shares in the last quarter. Finally, Hanlon Investment Management Inc. boosted its holdings in shares of Lockheed Martin by 2.7% in the 3rd quarter. Hanlon Investment Management Inc. now owns 936 shares of the aerospace company’s stock valued at $383,000 after buying an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 74.19% of the company’s stock.

Insider Activity

In other news, SVP Maryanne Lavan sold 4,022 shares of Lockheed Martin stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total transaction of $1,747,116.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Gregory M. Ulmer sold 6,204 shares of Lockheed Martin stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total value of $2,675,102.76. Following the sale, the insider now owns 12,604 shares of the company’s stock, valued at approximately $5,434,718.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maryanne Lavan sold 4,022 shares of Lockheed Martin stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total transaction of $1,747,116.58. The disclosure for this sale can be found here. Insiders sold a total of 16,874 shares of company stock valued at $7,249,946 in the last three months. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LMT. UBS Group raised their price target on shares of Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a report on Wednesday. Royal Bank of Canada lowered their price target on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 24th. The Goldman Sachs Group decreased their price objective on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research report on Tuesday. Morgan Stanley decreased their price objective on shares of Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Finally, Susquehanna decreased their price objective on shares of Lockheed Martin from $550.00 to $540.00 and set a “positive” rating for the company in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $479.90.

Lockheed Martin Stock Performance

LMT traded down $0.94 during trading on Wednesday, reaching $459.14. 1,017,323 shares of the company’s stock were exchanged, compared to its average volume of 1,174,945. Lockheed Martin Co. has a 1 year low of $393.77 and a 1 year high of $480.92. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.21 and a quick ratio of 1.03. The stock has a market capitalization of $110.42 billion, a P/E ratio of 16.72, a price-to-earnings-growth ratio of 4.21 and a beta of 0.48. The company’s fifty day simple moving average is $441.34 and its 200-day simple moving average is $444.04.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.80 by $0.53. The company had revenue of $17.20 billion during the quarter, compared to analyst estimates of $16.04 billion. Lockheed Martin had a net margin of 10.24% and a return on equity of 79.91%. Lockheed Martin’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the firm posted $6.43 EPS. As a group, research analysts predict that Lockheed Martin Co. will post 26.13 earnings per share for the current fiscal 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.