Consolidated Planning Corp Sells 177 Shares of Lockheed Martin Co. (NYSE:LMT)

Consolidated Planning Corp trimmed its stake in Lockheed Martin Co. (NYSE:LMT) by 21.4% during the 4th quarter, HoldingsChannel reports. The fund owned 652 shares of the aerospace company’s stock after selling 177 shares during the quarter. Consolidated Planning Corp’s holdings in Lockheed Martin were worth $295,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in shares of Lockheed Martin by 10,526.6% during the fourth quarter. International Assets Investment Management LLC now owns 1,362,228 shares of the aerospace company’s stock valued at $617,416,000 after purchasing an additional 1,349,409 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Lockheed Martin by 1.3% during the third quarter. Vanguard Group Inc. now owns 22,302,719 shares of the aerospace company’s stock valued at $9,120,920,000 after purchasing an additional 279,162 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Lockheed Martin by 28.5% during the third quarter. Envestnet Asset Management Inc. now owns 707,696 shares of the aerospace company’s stock valued at $289,419,000 after purchasing an additional 156,842 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Lockheed Martin by 4.0% during the third quarter. Wellington Management Group LLP now owns 3,158,783 shares of the aerospace company’s stock valued at $1,291,816,000 after purchasing an additional 121,358 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Lockheed Martin by 32.4% during the third quarter. AQR Capital Management LLC now owns 449,167 shares of the aerospace company’s stock valued at $183,691,000 after purchasing an additional 110,021 shares in the last quarter. 74.19% of the stock is owned by institutional investors.

Lockheed Martin Price Performance

Lockheed Martin stock traded down $3.49 during midday trading on Friday, reaching $461.29. 857,964 shares of the stock traded hands, compared to its average volume of 1,102,151. The stock’s fifty day moving average is $443.74 and its 200-day moving average is $444.53. Lockheed Martin Co. has a 12 month low of $393.77 and a 12 month high of $479.50. The stock has a market cap of $110.68 billion, a P/E ratio of 16.88, a PEG ratio of 4.22 and a beta of 0.48. The company has a quick ratio of 1.03, a current ratio of 1.30 and a debt-to-equity ratio of 2.89.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 EPS for the quarter, beating 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 return on equity of 85.96% and a net margin of 9.73%. The firm’s revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the company earned $6.43 earnings per share. As a group, equities research analysts anticipate that Lockheed Martin Co. will post 26.16 EPS for the current year.

Insider Activity

In other news, COO John Frank A. St sold 6,648 shares of the firm’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Gregory M. Ulmer sold 6,204 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total value of $2,675,102.76. Following the sale, the insider now directly owns 12,604 shares in the company, valued at $5,434,718.76. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO John Frank A. St sold 6,648 shares of the 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 disclosure for this sale can be found here. Insiders sold 16,874 shares of company stock valued at $7,249,946 in the last ninety days. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on LMT shares. Wells Fargo & Company upped their price objective on Lockheed Martin from $460.00 to $480.00 and gave the company an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. upgraded Lockheed Martin from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $475.00 to $518.00 in a research report on Monday, April 15th. The Goldman Sachs Group reduced their price objective on Lockheed Martin from $380.00 to $377.00 and set a “sell” rating for the company in a research report on Tuesday, April 23rd. UBS Group upped their price objective on Lockheed Martin from $482.00 to $499.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Morgan Stanley reduced their price objective on 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $485.40.

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.