Pacific Heights Asset Management LLC Has $37.44 Million Stock Position in Lockheed Martin Corporation $LMT

Pacific Heights Asset Management LLC boosted its holdings in Lockheed Martin Corporation (NYSE:LMT) by 33.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 75,000 shares of the aerospace company’s stock after buying an additional 19,000 shares during the quarter. Lockheed Martin makes up 1.7% of Pacific Heights Asset Management LLC’s holdings, making the stock its 12th biggest holding. Pacific Heights Asset Management LLC’s holdings in Lockheed Martin were worth $37,441,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barnes Dennig Private Wealth Management LLC lifted its holdings in shares of Lockheed Martin by 285.7% in the third quarter. Barnes Dennig Private Wealth Management LLC now owns 54 shares of the aerospace company’s stock worth $27,000 after acquiring an additional 40 shares during the last quarter. Mid American Wealth Advisory Group Inc. bought a new position in Lockheed Martin in the 2nd quarter valued at approximately $28,000. Twin Peaks Wealth Advisors LLC bought a new position in Lockheed Martin in the 2nd quarter valued at approximately $29,000. Frazier Financial Advisors LLC acquired a new stake in Lockheed Martin in the second quarter valued at approximately $34,000. Finally, MTM Investment Management LLC bought a new stake in shares of Lockheed Martin during the second quarter worth $36,000. Institutional investors own 74.19% of the company’s stock.

Lockheed Martin Price Performance

Shares of LMT opened at $581.62 on Tuesday. The business has a 50-day moving average of $485.76 and a 200-day moving average of $472.71. The company has a debt-to-equity ratio of 3.32, a current ratio of 1.13 and a quick ratio of 0.97. The company has a market capitalization of $134.59 billion, a price-to-earnings ratio of 32.47, a price-to-earnings-growth ratio of 1.66 and a beta of 0.24. Lockheed Martin Corporation has a 1 year low of $410.11 and a 1 year high of $582.93.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, October 21st. The aerospace company reported $6.95 earnings per share for the quarter, beating analysts’ consensus estimates of $6.33 by $0.62. Lockheed Martin had a net margin of 5.73% and a return on equity of 111.84%. The business had revenue of $18.61 billion during the quarter, compared to the consensus estimate of $18.45 billion. During the same quarter in the prior year, the firm posted $6.84 EPS. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Lockheed Martin Corporation will post 27.15 earnings per share for the current year.

Analyst Upgrades and Downgrades

LMT has been the subject of a number of research reports. Jefferies Financial Group increased their price target on Lockheed Martin from $500.00 to $540.00 and gave the company a “hold” rating in a research note on Monday, January 12th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $543.00 target price (down previously from $630.00) on shares of Lockheed Martin in a report on Tuesday, December 16th. BNP Paribas Exane lifted their price target on Lockheed Martin from $550.00 to $570.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. BNP Paribas raised Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, November 18th. Finally, The Goldman Sachs Group raised their price objective on shares of Lockheed Martin from $398.00 to $425.00 and gave the company a “sell” rating in a report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, sixteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Hold” and a consensus price target of $543.82.

Insider Activity at Lockheed Martin

In other news, COO John Frank A. St sold 7,792 shares of the stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $491.04, for a total transaction of $3,826,183.68. Following the completion of the sale, the chief operating officer directly owned 1 shares in the company, valued at $491.04. This represents a 99.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Lockheed Martin Profile

Lockheed Martin Corporation (NYSE: LMT) is a global aerospace and defense company that designs, develops and manufactures advanced technology systems for government and commercial customers. Formed through the 1995 merger of Lockheed Corporation and Martin Marietta, the company is headquartered in Bethesda, Maryland, and focuses on providing integrated solutions across air, space, land and sea domains. Its primary customers include the U.S. Department of Defense, NASA and allied governments around the world.

Lockheed Martin’s product and service portfolio spans military aircraft, missile and fire-control systems, missile defense, space systems and satellite technologies, sensors and precision weapons.