SlateStone Wealth LLC Acquires 725 Shares of Lockheed Martin Co. (NYSE:LMT)

SlateStone Wealth LLC grew its holdings in Lockheed Martin Co. (NYSE:LMT) by 8.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,374 shares of the aerospace company’s stock after purchasing an additional 725 shares during the quarter. SlateStone Wealth LLC’s holdings in Lockheed Martin were worth $4,249,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Herold Advisors Inc. raised its position in shares of Lockheed Martin by 8.6% in the 3rd quarter. Herold Advisors Inc. now owns 3,448 shares of the aerospace company’s stock valued at $1,410,000 after acquiring an additional 274 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Lockheed Martin by 3.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,088 shares of the aerospace company’s stock valued at $8,624,000 after purchasing an additional 770 shares during the last quarter. Alethea Capital Management LLC acquired a new stake in shares of Lockheed Martin in the third quarter valued at approximately $415,000. Meridian Wealth Management LLC raised its holdings in shares of Lockheed Martin by 149.0% in the third quarter. Meridian Wealth Management LLC now owns 11,960 shares of the aerospace company’s stock valued at $4,892,000 after purchasing an additional 7,156 shares during the last quarter. Finally, New Mexico Educational Retirement Board raised its holdings in shares of Lockheed Martin by 6.4% in the third quarter. New Mexico Educational Retirement Board now owns 11,697 shares of the aerospace company’s stock valued at $4,784,000 after purchasing an additional 700 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LMT. JPMorgan Chase & Co. upgraded shares of Lockheed Martin from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $475.00 to $518.00 in a report on Monday, April 15th. Citigroup decreased their target price on shares of Lockheed Martin from $540.00 to $508.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. Susquehanna decreased 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 note on Wednesday, January 24th. Royal Bank of Canada reduced their price objective 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. Finally, UBS Group reduced their price objective on shares of Lockheed Martin from $488.00 to $475.00 and set a “neutral” rating for the company in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $475.80.

Insiders Place Their Bets

In other news, COO John Frank A. St sold 6,648 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $425.35, for a total transaction of $2,827,726.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gregory M. Ulmer sold 6,204 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total value of $2,675,102.76. Following the completion of the sale, the insider now 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 valued at $7,249,946. 0.14% of the stock is currently owned by corporate insiders.

Lockheed Martin Stock Down 0.3 %

LMT stock opened at $458.89 on Wednesday. The company has a market cap of $110.36 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 4.21 and a beta of 0.48. The business has a 50-day simple moving average of $441.34 and a 200 day simple moving average of $444.04. Lockheed Martin Co. has a 52 week low of $393.77 and a 52 week high of $480.92. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 2.53.

Lockheed Martin (NYSE:LMT) last posted 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 business had revenue of $17.20 billion during the quarter, compared to the consensus estimate of $16.04 billion. Lockheed Martin had a return on equity of 79.91% and a net margin of 10.24%. Lockheed Martin’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 firm earned $6.43 earnings per share. Sell-side analysts anticipate that Lockheed Martin Co. will post 26.13 EPS for the current fiscal year.

Lockheed Martin Profile

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.