Lockheed Martin Co. (NYSE:LMT) Stake Reduced by Valley National Advisers Inc.

Valley National Advisers Inc. reduced its position in shares of Lockheed Martin Co. (NYSE:LMTGet Rating) by 4.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,154 shares of the aerospace company’s stock after selling 999 shares during the quarter. Lockheed Martin comprises about 2.1% of Valley National Advisers Inc.’s portfolio, making the stock its 9th biggest position. Valley National Advisers Inc.’s holdings in Lockheed Martin were worth $9,775,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LMT. Western Pacific Wealth Management LP purchased a new position in shares of Lockheed Martin in the 4th quarter valued at $25,000. Capital Advisory Group Advisory Services LLC purchased a new position in Lockheed Martin during the 1st quarter worth $38,000. San Luis Wealth Advisors LLC purchased a new position in Lockheed Martin during the 1st quarter worth $42,000. Citizens National Bank Trust Department purchased a new position in Lockheed Martin during the 4th quarter worth $43,000. Finally, Simon Quick Advisors LLC grew its stake in Lockheed Martin by 1,940.0% during the 1st quarter. Simon Quick Advisors LLC now owns 102 shares of the aerospace company’s stock worth $45,000 after buying an additional 97 shares during the last quarter. 75.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director John Donovan purchased 632 shares of the company’s stock in a transaction dated Wednesday, July 20th. The stock was acquired at an average cost of $396.16 per share, for a total transaction of $250,373.12. Following the completion of the transaction, the director now directly owns 1,200 shares of the company’s stock, valued at $475,392. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related 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 legal filing with the SEC, which is available through this link. Also, Director John Donovan acquired 632 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The stock was acquired at an average price of $396.16 per share, for a total transaction of $250,373.12. Following the completion of the acquisition, the director now directly owns 1,200 shares of the company’s stock, valued at approximately $475,392. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

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

Lockheed Martin Price Performance

NYSE LMT traded down $9.78 during trading hours on Friday, reaching $412.30. The company’s stock had a trading volume of 49,764 shares, compared to its average volume of 1,094,717. The firm has a market capitalization of $109.32 billion, a price-to-earnings ratio of 24.43, a P/E/G ratio of 2.88 and a beta of 0.66. Lockheed Martin Co. has a 1-year low of $324.23 and a 1-year high of $479.99. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.27 and a quick ratio of 1.06. The company’s 50-day moving average is $419.75 and its two-hundred day moving average is $431.25.

Lockheed Martin (NYSE:LMTGet Rating) last posted 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 firm had revenue of $15.45 billion for the quarter, compared to analysts’ expectations of $16.02 billion. During the same quarter last year, the firm posted $7.13 earnings per share. Lockheed Martin’s quarterly revenue was down 9.3% on a year-over-year basis. On average, equities analysts predict that Lockheed Martin Co. will post 26.8 EPS for the current year.

Lockheed Martin Company Profile

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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.

Further Reading

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

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