Cercano Management LLC Takes $29.45 Million Position in Lockheed Martin Co. (NYSE:LMT)

Cercano Management LLC acquired a new position in Lockheed Martin Co. (NYSE:LMT) during the 4th quarter, HoldingsChannel reports. The fund acquired 64,985 shares of the aerospace company’s stock, valued at approximately $29,454,000. Lockheed Martin makes up about 1.0% of Cercano Management LLC’s portfolio, making the stock its 26th biggest holding.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Lockheed Martin by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock worth $9,120,920,000 after buying an additional 279,162 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Lockheed Martin by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,686,937 shares of the aerospace company’s stock worth $2,302,388,000 after buying an additional 97,916 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Lockheed Martin by 4.0% in the 3rd quarter. Wellington Management Group LLP now owns 3,158,783 shares of the aerospace company’s stock worth $1,291,816,000 after buying an additional 121,358 shares during the last quarter. Northern Trust Corp boosted its holdings in Lockheed Martin by 4.0% in the 3rd quarter. Northern Trust Corp now owns 2,388,377 shares of the aerospace company’s stock worth $976,751,000 after buying an additional 91,109 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Lockheed Martin by 2.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,973,771 shares of the aerospace company’s stock worth $807,193,000 after buying an additional 46,890 shares during the last quarter. 74.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Susquehanna decreased their target price on shares of Lockheed Martin from $550.00 to $540.00 and set a “positive” rating on the stock in a research note on Wednesday, January 24th. The Goldman Sachs Group decreased their target price on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a research note on Tuesday, April 23rd. Royal Bank of Canada decreased their target price on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 24th. Morgan Stanley decreased their target price on shares of Lockheed Martin from $513.00 to $503.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. Finally, UBS Group raised their target price on shares of Lockheed Martin from $482.00 to $499.00 and gave the stock a “neutral” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Lockheed Martin has an average rating of “Hold” and a consensus target price of $485.40.

Lockheed Martin Trading Down 0.8 %

Shares of LMT stock traded down $3.49 during trading on Friday, hitting $461.29. 857,964 shares of the stock traded hands, compared to its average volume of 1,102,151. The firm has a market capitalization of $110.68 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 4.22 and a beta of 0.48. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.03. The firm’s fifty day moving average price is $443.74 and its 200-day moving average price is $444.53. Lockheed Martin Co. has a 52-week low of $393.77 and a 52-week high of $479.50.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 EPS for the quarter, beating the consensus estimate of $5.80 by $0.53. The firm had revenue of $17.20 billion for the quarter, compared to analyst estimates of $16.04 billion. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.43 EPS. As a group, research analysts forecast that Lockheed Martin Co. will post 26.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Lockheed Martin

In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Maryanne Lavan sold 4,022 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was 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 have sold a total of 16,874 shares of company stock valued at $7,249,946 over the last quarter. 0.17% of the stock is owned by company insiders.

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.