Citizens Business Bank Trims Stock Holdings in Lockheed Martin Co. (NYSE:LMT)

Citizens Business Bank trimmed its stake in shares of Lockheed Martin Co. (NYSE:LMT) by 7.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,769 shares of the aerospace company’s stock after selling 494 shares during the period. Citizens Business Bank’s holdings in Lockheed Martin were worth $2,615,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA lifted its position in shares of Lockheed Martin by 0.7% during the third quarter. Compagnie Lombard Odier SCmA now owns 3,375 shares of the aerospace company’s stock worth $1,380,000 after purchasing an additional 25 shares in the last quarter. Toews Corp ADV purchased a new position in shares of Lockheed Martin during the third quarter worth approximately $777,000. Accurate Wealth Management LLC increased its stake in Lockheed Martin by 4.9% in the third quarter. Accurate Wealth Management LLC now owns 1,979 shares of the aerospace company’s stock valued at $873,000 after purchasing an additional 92 shares during the period. Vicus Capital raised its stake in Lockheed Martin by 15.6% during the 3rd quarter. Vicus Capital now owns 2,556 shares of the aerospace company’s stock valued at $1,045,000 after acquiring an additional 345 shares during the last quarter. Finally, Aua Capital Management LLC raised its stake in shares of Lockheed Martin by 25.4% during the third quarter. Aua Capital Management LLC now owns 567 shares of the aerospace company’s stock worth $232,000 after purchasing an additional 115 shares during the last quarter. 74.19% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock traded down $2.62 during mid-day trading on Tuesday, reaching $464.93. 707,768 shares of the stock were exchanged, compared to its average volume of 1,159,886. Lockheed Martin Co. has a fifty-two week low of $393.77 and a fifty-two week high of $479.50. The firm has a 50-day simple moving average of $444.61 and a 200 day simple moving average of $444.82. The company has a market cap of $111.56 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 4.22 and a beta of 0.48. The company has a current ratio of 1.30, a quick ratio of 1.11 and a debt-to-equity ratio of 2.89.

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 the consensus estimate of $5.80 by $0.53. The business had revenue of $17.20 billion for 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 last year, the company earned $6.43 EPS. On average, sell-side analysts predict that Lockheed Martin Co. will post 26.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LMT. Royal Bank of Canada cut their target price on shares of Lockheed Martin from $475.00 to $470.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 24th. JPMorgan Chase & Co. upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $475.00 to $518.00 in a report on Monday, April 15th. Susquehanna dropped their target price 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. UBS Group raised 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, April 24th. Finally, Wells Fargo & Company boosted their target price on shares of Lockheed Martin from $460.00 to $480.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $485.40.

Insider Buying and Selling

In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of the company’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 SEC, which is accessible through this link. In other news, COO John Frank A. St sold 6,648 shares of the company’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 filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gregory M. Ulmer sold 6,204 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the completion of the sale, the insider now directly owns 12,604 shares in the company, valued at $5,434,718.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,874 shares of company stock worth $7,249,946. 0.14% of the stock is owned by 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.