Highland Capital Management LLC Cuts Stock Position in Lockheed Martin Co. (NYSE:LMT)

Highland Capital Management LLC reduced its position in Lockheed Martin Co. (NYSE:LMTGet Rating) by 2.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,054 shares of the aerospace company’s stock after selling 158 shares during the quarter. Highland Capital Management LLC’s holdings in Lockheed Martin were worth $3,033,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dakota Wealth Management boosted its holdings in shares of Lockheed Martin by 83.4% in the 1st quarter. Dakota Wealth Management now owns 1,977 shares of the aerospace company’s stock worth $873,000 after purchasing an additional 899 shares in the last quarter. Davis R M Inc. purchased a new position in shares of Lockheed Martin in the 1st quarter worth about $522,000. Minot Wealth Management LLC boosted its holdings in Lockheed Martin by 187.6% during the 2nd quarter. Minot Wealth Management LLC now owns 5,102 shares of the aerospace company’s stock valued at $2,194,000 after acquiring an additional 3,328 shares during the period. Dumont & Blake Investment Advisors LLC purchased a new stake in Lockheed Martin during the 1st quarter valued at about $262,000. Finally, City State Bank purchased a new stake in Lockheed Martin during the 4th quarter valued at about $643,000. 75.50% of the stock is currently owned by hedge funds and other institutional investors.

Lockheed Martin Stock Up 0.4 %

Shares of NYSE:LMT opened at $422.08 on Friday. Lockheed Martin Co. has a 52-week low of $324.23 and a 52-week high of $479.99. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.06 and a current ratio of 1.27. The firm has a market capitalization of $111.91 billion, a P/E ratio of 24.43, a P/E/G ratio of 2.88 and a beta of 0.66. The stock has a 50 day moving average price of $419.75 and a 200-day moving average price of $431.25.

Lockheed Martin (NYSE:LMTGet Rating) last posted its quarterly earnings data on Tuesday, July 19th. The aerospace company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $6.39 by ($5.23). Lockheed Martin had a net margin of 7.33% and a return on equity of 69.02%. The company had revenue of $15.45 billion for the quarter, compared to the consensus estimate of $16.02 billion. During the same period last year, the business earned $7.13 EPS. The firm’s quarterly revenue was down 9.3% on a year-over-year basis. As a group, equities research analysts anticipate that Lockheed Martin Co. will post 26.8 EPS for the current fiscal year.

Insider Activity at Lockheed Martin

In related news, EVP Gregory M. Ulmer sold 6,929 shares of the firm’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 transaction of $2,936,995.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lockheed Martin news, EVP Gregory M. Ulmer sold 6,929 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $423.87, for a total transaction of $2,936,995.23. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John Donovan bought 632 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were acquired at an average price of $396.16 per share, for a total transaction of $250,373.12. Following the completion of the purchase, the director now owns 1,200 shares in the company, valued at approximately $475,392. The disclosure for this purchase can be found here. 0.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Royal Bank of Canada assumed 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. 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. Finally, 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. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $448.92.

About Lockheed Martin

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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.

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

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